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Monetary Policy and Herd Behavior: Leaning Against Bubbles.

Loisel, O.; Pommeret, A.; Portier, T. - Banque de France - 2012

We study the role of monetary policy when asset-price bubbles may form due to herd behavior in investment in an asset … from households to publicly invest in the old or the new technology. The three main results of the paper are that bubbles … directly access to less information than the investors; and that the central bank can eliminate bubbles by manipulating the …

Persistent link: https://www.econbiz.de/10010815962

De la crise financière à la crise économique

2010

Persistent link: https://www.econbiz.de/10003979521

La crise de la dette souveraine

2012

Persistent link: https://www.econbiz.de/10009559850

Financing SMEs in Europe

Balling, Morten (ed.); Bernet, Beat (ed.); Gnan, Ernest (ed.) - Conference on "Financing SMEs in Europe" <2008, Paris>; … - 2009

Small and medium-sized enterprises are a centrepiece of Europe's economy. Due to their limited size and their generally lower creditworthiness, their access to financial market instruments is more limited than for large enterprises, which benefit from more elaborate Treasury operations,...

Persistent link: https://www.econbiz.de/10011705468

Euro Area monetary policy shocks: impact on financial asset prices during the crisis?

Jardet, C.; Monks, A. - Banque de France - 2014

We use high-frequency intraday interest rate data to measure euro area monetary policy shocks on the days of ECB interest rate announcements between 2002 and 2013. In line with Gürkaynak et al. (2005), we look at monetary policy shocks along two time dimensions: one related to the current level...

Persistent link: https://www.econbiz.de/10010938544