Narrow search
Showing 1 - 10 of 348
Cover Image
Unconventional Monetary Policy and the Anchoring of Inflation Expectations
Ciccarelli, Matteo - 2017
The effects of the unconventional monetary policy (UMP) measures undertaken by the U.S. Federal Reserve (and other major central banks) remain a crucial topic for research. This paper investigates their effects on the anchoring of long-term inflation expectations, a key dimension of UMP that has...
Persistent link: https://www.econbiz.de/10012963931
Cover Image
Negative Interest Rates, Excess Liquidity and Retail Deposits : Banks’ Reaction to Unconventional Monetary Policy in the Euro Area
Demiralp, Selva - 2019
' funding structures jointly with that in their excess liquidity holdings. We find evidence that banks highly exposed to the …, importantly, the explicit consideration of the role of excess liquidity in our analysis …
Persistent link: https://www.econbiz.de/10012869955
Cover Image
Negative Interest Rates, Excess Liquidity and Retail Deposits : Banks’ Reaction to Unconventional Monetary Policy in the Euro Area
Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - 2021
reliance on retail deposit funding and the level of excess liquidity holdings may increase banks’ responsiveness to NIRP. We … segments. We are the first to document the importance of banks’ excess liquidity holdings for the effectiveness of NIRP …, pointing to a strong complementarity of NIRP with central bank liquidity injections, e.g. via asset purchases …
Persistent link: https://www.econbiz.de/10013221074
Cover Image
The Implications of Liquidity Regulation for Monetary Policy Implementation and the Central Bank Balance Sheet Size : An Empirical Analysis of the Euro Area
Kedan, Danielle; Ventula Veghazy, Alexia - 2021
We analyse the impact of the Liquidity Coverage Ratio (LCR) on the demand for central bank reserves in the euro area … crisis and the associated introduction of new liquidity regulation …
Persistent link: https://www.econbiz.de/10013243820
Cover Image
An evaluation of the CAP impact : a discrete policy mix analysis
Dumangane, M.; Freo, M.; Granato, S.; Lapatinas, A.; … - Europäische Kommission / Gemeinsame Forschungsstelle - 2021
Persistent link: https://www.econbiz.de/10013438697
Cover Image
Assessing the Fiscal-Monetary Policy Mix in the Euro Area
Bańkowski, Krzysztof; Christoffel, Kai Philipp; Faria, … - 2021
This paper attempts to gauge the effects of various fiscal and monetary policy rules on macroeconomic outcomes in the euro area. It consists of two major parts – a historical assessment and an assessment based on an extended scenario until 2030 – and it builds on the ECB-BASE –a...
Persistent link: https://www.econbiz.de/10013312080
Cover Image
Die Wirkung fiskalischer Schocks auf das Bruttoinlandsprodukt
Bode, Oliver; Gerke, Rafael; Schellhorn, Hannes - 2006
Persistent link: https://www.econbiz.de/10009751414
Cover Image
The Growth Impact of Discretionary Fiscal Policy Measures
Attinasi, Maria Grazia - 2014
This paper looks at the impact of discretionary fiscal policy on economic growth for a sample of 18 EU countries over the period 1998-2011. The main novelty of this paper is the use, on the revenue side, of a dataset of fiscal measures based on the yield of actual legislative and budgetary...
Persistent link: https://www.econbiz.de/10013051658
Cover Image
Shocks, Structures or Monetary Policies? The Euro Area and US After 2001
Christiano, Lawrence J. - 2007
The US Federal Reserve cut interest rates more vigorously in the recent recession than the European Central Bank did. By comparison with the Fed, the ECB followed a more measured course of action. We use an estimated dynamic general equilibrium model with financial frictions to show that...
Persistent link: https://www.econbiz.de/10012776610
Cover Image
Monetary Conservatism and Fiscal Policy
Adam, Klaus - 2006
Does an inflation conservative central bank agrave; la Rogoff (1985) remain desirable in a setting with endogenous fiscal policy? To provide an answer we study monetary and fiscal policy games without commitment in a dynamic stochastic sticky price economy with monopolistic distortions. Monetary...
Persistent link: https://www.econbiz.de/10012779800