Narrow search
Showing 1 - 10 of 111
Cover Image
Demand for Central Bank Reserves and Monetary Policy Implementation Frameworks : The Case of the Eurosystem
Åberg, Pontus; Corsi, Marco; Grossmann-Wirth, Vincent; … - 2021
This paper discusses commercial banks’ demand for central bank reserves under two alternative monetary policy framework configurations, namely: (i) an interest rate corridor system with scarce liquidity, and (ii) a floor system with ample liquidity. It outlines the interaction between the...
Persistent link: https://www.econbiz.de/10013212033
Cover Image
Evolution of the Ecb's Analytical Framework
Holm-Hadulla, Federic; Musso, Alberto; Vlassopoulos, Thomas - 2021
This paper discusses the role of economic and monetary analysis in the monetary policy strategy of the European Central Bank (ECB). Both areas of analysis have evolved since the 2003 strategy review. Economic analysis has assigned an increasingly relevant role to the Eurosystem and ECB staff...
Persistent link: https://www.econbiz.de/10013210828
Cover Image
The Monetary Transmission Mechanism in the Euro Area : Has it Changed and Why?
Cecioni, Martina - 2011
Based on a structural VAR and a dynamic general equilibrium model, we provide evidence of the changes in the monetary transmission mechanism (MTM) in the European Monetary Union after the adoption of the common currency in 1999. The estimation of a Bayesian VAR over the periods before and after...
Persistent link: https://www.econbiz.de/10013124764
Cover Image
The Sectoral Distribution of Money Supply in the Euro Area
Ferrero, Giuseppe; Nobili, Andrea; Passiglia, Patrizia - 2007
The strong and prolonged deviation of money growth from its reference value since 2001 has caused concern among policy … might be smaller than previously assumed. We provide a sectoral breakdown of money holdings and show that current excess … liquidity conditions are in some measure related to the acceleration of non-bank financial intermediaries' money demand, as well …
Persistent link: https://www.econbiz.de/10014050377
Cover Image
The Use of Cash by Households in the Euro Area
Esselink, Henk - 2017
Although euro banknotes and coins have been in circulation for fifteen years, not much is known about the actual use of cash by households. This paper presents an estimation of the number and value of cash transactions in all 19 euro area countries in 2016, based on survey results. It presents...
Persistent link: https://www.econbiz.de/10012942685
Cover Image
Catch Me (If You Can) : Assessing the Risk of SARS-CoV-2 Transmission Via Euro Cash
Tamele, Barbora; Zamora-Pérez, Alejandro; Litardi, Chiara - 2021
In the light of fears that the SARS-CoV-2 virus might be transmitted via cash – fears that were stoked by statements in the media and from public authorities – this paper aims to address the following issues: (1) to provide a descriptive account of the change in the circulation of euro...
Persistent link: https://www.econbiz.de/10013217793
Cover Image
Testing Information Diffusion in the Decentralized Unsecured Market for Euro Funds
Rainone, Edoardo - 2016
money. A wide time span including sovereign debt crises in the euro area is considered. I find that information diffusion …
Persistent link: https://www.econbiz.de/10013000982
Cover Image
Exchange Rate Pass-Through into Euro Area Inflation. An Estimated Structural Model
Burlon, Lorenzo - 2019
We evaluate the exchange rate pass-through (ERPT) into euro area (EA) inflation by estimating an open economy New Keynesian model with Bayesian methods. In the model ERPT is incomplete because of local currency pricing and distribution services, with the latter allowing to distinguish between...
Persistent link: https://www.econbiz.de/10012867175
Cover Image
The Analytical Credit Dataset. A Magnifying Glass for Analysing Credit in the Euro Area
Israel, Jean Marc - 2017
In May 2016 the Governing Council adopted the AnaCredit Regulation (ECB/2016/13) providing the legal basis for the European System of Central Banks (ESCB) to collect granular information on loans from banks to corporates and other legal persons based on a core set of harmonised concepts and...
Persistent link: https://www.econbiz.de/10012954335
Cover Image
Revisiting the Monetary Presentation of the Euro Area Balance of Payments
Picón Aguilar, Carmen - 2020
flows between resident money holders and the rest of the world. This is possible thanks to the monetary presentation of the …
Persistent link: https://www.econbiz.de/10012841808