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A new two-pillar strategy for the ECB
De Grauwe, Paul; Gros, Daniel - 2009
The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
Persistent link: https://www.econbiz.de/10003888991
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Default predictors and credit scoring models for retail banking
Kočenda, Evžen; Vojtek, Martin - 2009
This paper develops a specification of the credit scoring model with high discriminatory power to analyze data on loans at the retail banking market. Parametric and non- parametric approaches are employed to produce three models using logistic regression (parametric) and one model using...
Persistent link: https://www.econbiz.de/10003910674
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Incomplete specialization and offshoring across Europe
Frensch, Richard; Hanousek, Jan; Kočenda, Evžen - 2012
Recent empirical studies have been searching for evidence on and driving forces for offshoring. Frequently, this has been done by analyzing gross trade flows related to offshore activities using gravity equations augmented by ad hoc measures of supply-side country differences. This paper...
Persistent link: https://www.econbiz.de/10009535108
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The impact of macro news and central bank communication on emerging European forex markets
Égert, Balázs; Kočenda, Evžen - 2013
We employ two-stage empirical strategy to analyze the impact of macroeconomic news and central bank communication on the exchange rates of three Central and Eastern European (CEE) currencies against the euro. First we estimate the nominal equilibrium exchange rate based on a monetary model....
Persistent link: https://www.econbiz.de/10009764449
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What's in a second opinion? : shadowing the ECB and the Bank of England
Neuenkirch, Matthias; Siklos, Pierre L. - 2013
Persistent link: https://www.econbiz.de/10009788857
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Who needs foreign banks?
Gros, Daniel - 2003
10 countries from Central and Eastern Europe (CEEC) that will join the EU in 2004/7 the banking system is now dominated …
Persistent link: https://www.econbiz.de/10011508110
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Asymmetries in the trans-Atlantic monetary policy relationship : does the ECB follow the Fed?
Belke, Ansgar (contributor); Gros, Daniel (contributor) - 2005
The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...
Persistent link: https://www.econbiz.de/10002749782
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What affects bank market power in the Euro area? : a structural model approach
Coccorese, Paolo; Girardone, Claudia; Shaffer, Sherrill - 2021 - This version: January 2021
Persistent link: https://www.econbiz.de/10012585933
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One size must fit all : national divergences in a monetary union
Gros, Daniel; Hefeker, Carsten - 2000
decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national rates …
Persistent link: https://www.econbiz.de/10009781604
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Intraday effect of news on emerging European forex markets : an event study analysis
Kočenda, Evžen; Moravcová, Michala - 2018
monetary policy settings of the ECB and the Fed on the forex markets of new EU members. We employ an event study methodology to … post-GFC period shows that: (i) macroeconomic announcements affect the value of the new-EU-country exchange rates, (ii) the … policy result in stronger effects than those of the Fed, (viii) temporary inefficiencies are present on new-EU-country forex …
Persistent link: https://www.econbiz.de/10011902959