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Government bond risk premiums in the EU revisited : the impact of the financial crisis
Schuknecht, Ludger; Hagen, Jürgen von; Wolswijk, Guido … - 2010
This note looks at US$ and DM/Euro denominated government bond spreads relative to US and German benchmark bonds before and after the start of the current financial crisis. The study finds, first, that bond yield spreads before and during the crisis can largely be explained on the basis of...
Persistent link: https://www.econbiz.de/10003970438
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The euro area Bank Lending Survey matters : empirical evidence for credit and output growth
Bondt, Gabe J. de; Maddaloni, Angela; Peydró, José-Luis - 2010
This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and output growth. The responses of the lending survey, especially those related to loans to enterprises, are a significant leading indicator for euro area bank credit and real GDP...
Persistent link: https://www.econbiz.de/10003971193
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Trusting the bankers : a new look at the credit channel of monetary policy
Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - 2010
Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand are difficult to disentangle. To address this issue, we use the detailed answers from the US and the confidential and unique Euro area bank lending surveys. Embedding this...
Persistent link: https://www.econbiz.de/10003993969
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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