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Banks' Trading after the Lehman Crisis : The Role of Unconventional Monetary Policy

Podlich, Natalia - 2017

the change in eligibility criteria for collateral in central bank refinancing operations. Our results show that market … observe a broad-based flight to liquidity. The European Central Bank's unconventional monetary policy had a strong impact on …

Persistent link: https://www.econbiz.de/10012952017

Fire Buys of Central Bank Collateral Assets

de Roure, Calebe - 2017

Risk-Shifting premium. With the full fixed-income trading book of 26 German banks, I identify each trade of each bank and …

Persistent link: https://www.econbiz.de/10012964444

Monetary Policy, Housing, and Collateral Constraints

Franz, Thorsten - 2019

House-purchasing decisions and the possibility of existing homeowners to tap into their housing equity depend decisively on prevailing loan-to-value (LTV) ratios in mortgage markets with borrowing constrained households. Utilizing a smooth transition local projection (STLP) approach, I show that...

Persistent link: https://www.econbiz.de/10012900579

The Intraday Interest Rate : What's that?

Abbassi, Puriya - 2016

We study the intraday interest rate in a CCP-based GC pooling repo market and its key determinants. Since collateral used in this market is identical to collateral eligible for the daylight overdraft facility of the Eurosystem, any intraday rate in this market cannot be a result of collateral...

Persistent link: https://www.econbiz.de/10012988682

Cross-Border Liquidity, Relationships and Monetary Policy : Evidence from the Euro Area Interbank Crisis

Abbassi, Puriya - 2016

the proprietary bank-to-bank European interbank dataset extracted from Target2 and also exploit the Lehman and sovereign …

Persistent link: https://www.econbiz.de/10012988708

Unconventional Monetary Policy in an Open Economy

Bricco, Jana Gieck - 2016

commonly used: central bank liquidity injections and asset swaps. I find that liquidity injections lead to a short run …

Persistent link: https://www.econbiz.de/10012988709

The Distribution of Debt Across Euro Area Countries : The Role of Individual Characteristics, Institutions and Credit Conditions

Bover, Olympia - 2016

The aim of this paper is twofold. First, we present an up-to-date assessment of the differences across euro area countries in the distributions of various measures of debt conditional on household characteristics. We consider three different outcomes: the probability of holding debt, the amount...

Persistent link: https://www.econbiz.de/10012988756

Asset Prices, Collateral, and Unconventional Monetary Policy in a DSGE Model

Hilberg, Björn - 2016

by the central bank is only partially passed on to the interbank market. Moreover, this framework allows us to examine … haircut rule for a central bank which decides to implement a 'leaning-against-the- wind'-policy. Finally, we analyze the long … bank can stabilize all variables at the cost of higher inflation and that macroeconomic volatility is smallest if the …

Persistent link: https://www.econbiz.de/10012988760