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Has the financial crisis eroded citizens’ trust in the European Central Bank? : panel data evidence for the euro area ; 1999-2011

Roth, Felix; Gros, Daniel; Nowak-Lehmann D., Felicitas - 2012 - Revised Version: March 2012

In the aftermath of the financial crisis trust, in the European Central Bank (ECB) has reached an historical low. Taking panel data and using a fixed effects DFGLS estimation for a 12–country sample over the time period 1999 to 2011 with a total of 312 observations, this paper detects a...

Persistent link: https://www.econbiz.de/10009711914

CEECs integration into regional and global production networks

Martínez-Zarzoso, Inmaculada; Voicu, Anca M.; Vidovic, … - 2011

This paper examines the involvement of the CEECs into regional and global production networks over the period 1999 to 2009. We employ a theoretically justified gravity model which incorporates the extensive margin of trade and accounts for firm heterogeneity. We first estimate the model for...

Persistent link: https://www.econbiz.de/10009126416

MERCOSUR-European Union Trade : how important is EU trade liberalisation for MERCOSUR's exports?

Martínez-Zarzoso, Inmaculada (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002166923

Turkey and the Ankara treaty of 1963 : what can trade integration do for Turkish exports?

Nowak-Lehmann D., Felicitas; Herzer, Dierk; … - 2005

This paper investigates the trade effects of Turkey’s trade integration into the EU. To this end sectoral trade flows … to the EU based on panel data from the period 1988 to 2002 are examined concentrating on Turkey's sixteen most important … export sectors. Emphasis is placed on the role of price competition, EU protection, and transport costs in the export trade …

Persistent link: https://www.econbiz.de/10002846553

Financial Frictions and Inflation Differentials in a Monetary Union

Hristov, Nikolay - 2010

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation differentials can be explained by cross-country differences concerning the characteristics of financial markets. Our results suggest that empirically plausible degrees of...

Persistent link: https://www.econbiz.de/10013136243

The Interest Rate Pass-Through in the Euro Area During the Global Financial Crisis

Hristov, Nikolay - 2013

This paper uses panel vector autoregressive models and simulations of an estimated DSGE model to explore the reaction of Euro–area banks to the global financial crisis. We focus on their interest–rate setting behavior in response to standard macroeconomic shocks. Our main empirical finding...

Persistent link: https://www.econbiz.de/10013089850

Smells Like Fiscal Policy? Assessing the Potential Effectiveness of the ECB's OMT Program

Hristov, Nikolay - 2014

This paper explores the potential effectiveness of the ECB's Outright Monetary Transaction (OMT) program in safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting sovereign bond purchases on secondary markets, a stable...

Persistent link: https://www.econbiz.de/10013057668

The Price Puzzle Revisited : Can the Cost Channel Explain a Rise in Inflation after a Monetary Policy Shock?

Henzel, Steffen - 2013

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost...

Persistent link: https://www.econbiz.de/10012753889

Loan Supply Shocks During the Financial Crisis : Evidence for the Euro Area

Hristov, Nikolay; Hülsewig, Oliver; Wollmershaeuser, Timo - 2021

This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of banks during the slump of the real economy that followed the financial crisis. In particular, we seek to quantify the macroeconomic effects of adverse loan supply shocks, which...

Persistent link: https://www.econbiz.de/10013316038

Income inequality and monetary policy in the Euro Area

Creel, Jérôme; El Herradi, Mehdi - 2020

Persistent link: https://www.econbiz.de/10012322009