Showing 1 - 10 of 13
In Reaktion auf die Finanzkrise hat das Eurosystem seine Geldpolitik massiv gelockert. So hat die Europäische … budgets in several countries of the euro area. This has led to large liquidity flows into Germany. This situation is expected … to continue for some time to come. With huge amounts of excess liquidity already accumulated in the German banking sector …
Persistent link: https://www.econbiz.de/10010343472
Persistent link: https://www.econbiz.de/10010408479
Persistent link: https://www.econbiz.de/10009558427
Persistent link: https://www.econbiz.de/10009559835
This paper presents a complete set of results describing the effects of monetary policy in 10 countries of the euro area for the pre-EMU period. For each country, we impose one of three identification schemes depending on its monetary integration with Germany, the nominal anchor of the ERM. The...
Persistent link: https://www.econbiz.de/10005344895
This paper investigates the relationship between short-term interest rates and bank risk. Using a unique database that includes quarterly balance sheet information for listed banks operating in the European Union and the United States in the last decade, we find evidence that unusually low...
Persistent link: https://www.econbiz.de/10008541295
Drawing on recent Eurosystem research that uses a range of econometric techniques and a number of new data sets, we propose a comprehensive description of how monetary policy affects the euro area economy. We focus mainly on three questions: (1) what are the stylised facts concerning the...
Persistent link: https://www.econbiz.de/10005070389
fundamental role of liquidity transformation performed by financial intermediaries. We claim that the changing role of banks from …
Persistent link: https://www.econbiz.de/10005033430
other indicators (i.e. size, liquidity and capitalization), traditionally used in the bank lending channel literature to …
Persistent link: https://www.econbiz.de/10005037602
This paper presents stylised facts about the business cycle of the euro area. The results suggest that the stylised facts for the euro area economy and the US are very similar. The magnitude of the fluctuations in consumption, investment, prices, inflation, interest rate, monetary aggregates...
Persistent link: https://www.econbiz.de/10005530940