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Monetary policy transmission to mortgages in a negative interest rate environment
Amzallag, Adrien; Calza, Alessandro; Georgarakos, Dimitris - 2019
Do negative policy rates hinder banks' transmission of monetary policy? To answer this question, we examine the behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher ratios of retail overnight deposits to total assets charge...
Persistent link: https://www.econbiz.de/10011975610
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Forecasting euro area inflation using targeted predictors : is money coming back?
Falagiarda, Matteo; Sousa, João - 2017
This paper sheds new light on the information content of monetary and credit aggregates for future price developments in the euro area. Overall, we find strong variation in the information content of these variables over time. We show that monetary and credit aggregates are very often selected...
Persistent link: https://www.econbiz.de/10011637074
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Fiscal discipline and growth in Euroland : experiences with the stability and growth pact
Hagen, Jürgen von - 2003
Persistent link: https://www.econbiz.de/10010515671
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The functioning of economic policy coordination
Hagen, Jürgen von; Mundschenk, Susanne - 2001
Persistent link: https://www.econbiz.de/10010515683
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Financial Supervision and Policy Coordination in The EMU
Hagen, Jürgen von (contributor);  … - 2000
Contents: 1. Jürgen von Hagen, Jean Pisani-Ferry - Forum Economique Franco-Allemand /Deutsch-Französisches Wirtschaftspolitisches Forum .... 1 -- 2. Jürgen von Hagen - The First Year of EMU ... 3 -- 3. Dominique Guellec - Economic Growth in Europe: Entering a New Era? ... 17 -- 4. Jean-Louis...
Persistent link: https://www.econbiz.de/10010515692
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Fiscal policy and intranational risk-sharing
Hagen, Jürgen von - 1998 - revised, September 1998
A general feature of national fiscal systems is that they provide buffers against regional fluctuations in output and employment by redistributing income between the different regions of a country. Recent literature in connection with European monetary integration has stressed the insurance...
Persistent link: https://www.econbiz.de/10010516950
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Monetary policy in unknown territory : the European Central Bank in the early years
Hagen, Jürgen von; Brückner, Matthias - 2001 - Revised version
Persistent link: https://www.econbiz.de/10010518133
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Sovereign risk premia in the European government bond market
Bernoth, Kerstin; Hagen, Jürgen von; Schuknecht, Ludger - 2004 - Revised, April 2004
This paper provides a study of bond yield differentials among EU eurobonds issued between 1991 and 2002. Interest … differentials between bonds issued by EU countries and Germany or the USA contain risk premia which increase with the debt, deficit … spreads between EU countries and Germany/USA. The start of the European Monetary Union had significant effects on the bond …
Persistent link: https://www.econbiz.de/10010519044
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Negative monetary policy rates and systemic banks' risk-taking : evidence from the euro area securities register
Bubeck, Johannes; Maddaloni, Angela; Peydró, José-Luis - 2020
We show that negative monetary policy rates induce systemic banks to reach-for-yield. For identification, we exploit the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for the 26 largest euro area banking groups. Banks with more...
Persistent link: https://www.econbiz.de/10012206320