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International effects of euro area versus US policy uncertainty : a FAVAR approach

Belke, Ansgar; Osowski, Thomas - 2017

prices, equity prices and interest rates. Uncertainty shocks cause deeper recessions in Continental Europe (except Germany …) than in Anglo-Saxon countries. This pattern is compatible with the view that continental Europe still suffers from …

Persistent link: https://www.econbiz.de/10011691548

International effects of euro area versus US policy uncertainty : a FAVAR approach

Belke, Ansgar; Osowski, Thomas - 2017

prices, equity prices, and interest rates. Uncertainty shocks cause deeper recessions in Continental Europe (except Germany …) than in Anglo-Saxon countries. This pattern is compatible with the view that continental Europe still suffers from … Auswirkungen. In dieser Hinsicht erweist sich die Schweiz als das am stärksten betroffene Land in Europa außerhalb der Eurozone …

Persistent link: https://www.econbiz.de/10011640939

International effects of euro area versus US policy uncertainty : a FAVAR approach

Belke, Ansgar; Osowski, Thomas - 2017

prices, equity prices and interest rates. Uncertainty shocks cause deeper recessions in Continental Europe (except Germany …) than in Anglo- Saxon countries. This pattern is compatible with the view that continental Europe still suffers from …

Persistent link: https://www.econbiz.de/10012110907

Asymmetries in the trans-Atlantic monetary policy relationship : does the ECB follow the Fed?

Belke, Ansgar (contributor); Gros, Daniel (contributor) - 2005

The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...

Persistent link: https://www.econbiz.de/10002749782

Driven by the markets? : ECB sovereign bond purchases and the securities market programme

Belke, Ansgar - 2010

After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to purchase European government bonds - to ensure an "orderly monetary policy transmission mechanism". Many observers argued that, by bond purchases, national fiscal policies could...

Persistent link: https://www.econbiz.de/10009261344

Finance access of SMEs : what role for the ECB?

Belke, Ansgar - 2013

Small and medium size enterprises (SMEs) of southern euro-area economies (e.g. Italy, Spain) pay significantly higher borrowing rates than their peers of the core (e.g. Germany, France) and this divergence is widening. It is argued that severe market failures prevent SMEs in southern euro area...

Persistent link: https://www.econbiz.de/10010255130

3-year LTROs : a first assessment of a non-standard policy measure

Belke, Ansgar - 2013

This paper provides a first preliminary assessment of the recent two 3-year long-term refinancing operations (3Y LTROs) conducted by the ECB by putting them into a broader context. The perspective taken is that prevailing in the first half of the year 2012, directly after the path-breaking ECB...

Persistent link: https://www.econbiz.de/10010255141

A more effective euro area monetary policy than OMTs : gold-backed sovereign debt

Belke, Ansgar - 2013

This paper argues that using gold as collateral for highly distressed bonds would bring great benefits to the euro area in terms of reduced financing costs and bridge-financing. It is mindful of the legal issues that this will raise and that such a suggestion will be highly controversial....

Persistent link: https://www.econbiz.de/10010255196

Monetary dialogue 2009 - 2014 : looking backward, looking forward

Belke, Ansgar - 2014

Dieses Paper kommentiert die Bedeutung des vom Europa-Parlament seit Jahren fest institutionalisierten und viel …

Persistent link: https://www.econbiz.de/10010259542

Exit strategies and their impact on the Euro area : a model based view

Belke, Ansgar - 2014

Dieser Beitrag untersucht die Argumente für und gegen einen Ausstieg aus der expansiven Geldpolitik. Der Fokus liegt dabei auf der Betrachtung der Effekte eines Ausstiegs der amerikanischen Notenbank Fed auf die Eurozone. Dies erscheint sinnvoll, da die Fed als eine der ersten großen...

Persistent link: https://www.econbiz.de/10010227698