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Bank risk and monetary policy
Altunbaş, Yener; Gambacorta, Leonardo; Marqués … - European Central Bank - 2009
We find evidence of a bank lending channel for the euro area operating via bank risk.Financial innovation and the new … ways to transfer credit risk have tended to diminishthe informational content of standard bank balance-sheet indicators. We … indicators (i.e. size, liquidity and capitalization), traditionallyused in the bank lending channel literature to assess a bank …
Persistent link: https://www.econbiz.de/10005866486
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Bank risk and monetary policy
Altunbas, Yener; Gambacorta, Leonardo; … - European Central Bank - 2009
We find evidence of a bank lending channel for the euro area operating via bank risk. Financial innovation and the new … ways to transfer credit risk have tended to diminish the informational content of standard bank balance-sheet indicators …. We show that bank risk conditions, as perceived by financial market investors, need to be considered, together with the …
Persistent link: https://www.econbiz.de/10005037602
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optimal monetary Policy in a new keynesian model with habits in consumption
Leith, Campbell; Moldovan, Ioana; Rossi, Raffaele - European Central Bank - 2009
While consumption habits have been utilised as a means of generating a hump shapedoutput response to monetary policy shocks in sticky-price New Keynesian economies,there is relatively little analysis of the impact of habits (particularly, external habits) onoptimal policy. In this paper we...
Persistent link: https://www.econbiz.de/10005866485
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Background studies for the ECB's evaluation of its monetary policy strategy
Issing, Otmar (contributor) - European Central Bank - 2003
Persistent link: https://www.econbiz.de/10004820102
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The role of money : money and monetary policy in the twenty-first century
Beyer, Andreas (contributor) - 2008
Persistent link: https://www.econbiz.de/10004924307
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Issues in the ECU Markets and Some Tentative Explanations fro Some Apparent Puzzles.
Fell, J.P.C.; Levy, A. - European Central Bank - 1996
This study focuses on longer term influences and provides some potential explanations in ECU markets which were regarder by some financial market participants as puzzles.
Persistent link: https://www.econbiz.de/10005486856
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Clustering techniques applied to outlier detection of financial market series using a moving window filtering algorithm
Gutiérrez, Puigvert; Maria, Josep; Fortiana Gregori, Josep - European Central Bank - 2008
In this study we combine clustering techniques with a moving window algorithm in order to filter financial market data outliers. We apply the algorithm to a set of financial market data which consists of 25 series selected from a larger dataset using a cluster analysis technique taking into...
Persistent link: https://www.econbiz.de/10005530673
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Liquidity and real equilibrium interest rates: a framework of analysis
Stracca, Livio - European Central Bank - 2005
This paper proposes a general equilibrium model with heterogeneous households and a financial market where each financial instrument provides liquidity services in addition to enabling a transfer of purchasing power over time. Importantly, liquidity services may be asymmetric according to...
Persistent link: https://www.econbiz.de/10005530958