This Paper provides the first empirical examination of the microstructure of the euro money market, using tick data … maintenance periods and during the year 2000 changeover. Even intraday, overnight rate levels hardly differ across euro area …

the effect is weak and on average negative. The response of equities to central bank talk depends critically on the …

that help address questions such as the slope of bond demand functions and the efficacy of central bank liquidity programs …

a special emphasis on the first year of the Euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the Euro during 1999 compared to the aggregate of Euro predecessor currencies, net of intra-Euro … examined empirically. It turns out that for almost all important market segments for which data are available, the Euro …

Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary … type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank … using a model of bank risk-taking and securitization. …