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Financial Stability in Europe : Banking and Sovereign Risk
Bruha, Jan - 2017
We analyze the link between banking sector quality and sovereign risk in the whole European Union over 1999–2014. We employ four different indicators of sovereign risk (including market- and opinion-based assessments), a rich set of theoretically and empirically motivated banking sector...
Persistent link: https://www.econbiz.de/10012955275
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Target Losses in Case of a Euro Break-Up
Sinn, Hans-Werner - 2012
Evaluation of the financial costs of a Eurozone breakup depends critically on the interpretation of TARGET balances …. While it has been argued that TARGET claims in the Eurozone can be written off without incurring any losses on the claimants …
Persistent link: https://www.econbiz.de/10013098046
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The Risk-Taking Channel of Monetary Policy Transmission in the Euro-Area
Neuenkirch, Matthias - 2018
In this paper, we provide evidence for a risk-taking channel of monetary policy transmission in the euro area that … compression. We document these findings for the euro area as a whole and for its individual member states. In particular, banks in …
Persistent link: https://www.econbiz.de/10012917006
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Shadow Banks and the Risk-Taking Channel of Monetary Policy Transmission in the Euro Area
Wischnewsky, Arina - 2018
In this paper, we provide evidence for a risk-taking channel of monetary policy transmission in the euro area that … stance, the aforementioned two indicators for the shadow banking sector. Based on vector autoregressive models for the euro … expansion of assets. Country-specific estimations confirm these findings for most of the euro area countries, but also reveal …
Persistent link: https://www.econbiz.de/10012912666
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The Transmission Mechanism of Credit Support Policies in the Euro Area
Boeckx, Jef - 2017
We use an original monthly dataset of 131 individual euro area banks to examine the effectiveness and transmission …
Persistent link: https://www.econbiz.de/10012955416
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Sovereign Default Risk and Banks in a Monetary Union
Uhlig, Harald - 2013
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10013076729
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The Macroeconomic Policy Challenges of Balance Sheet Recession : Lessons from Japan for the European Crisis
Schnabl, Gunther - 2013
The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...
Persistent link: https://www.econbiz.de/10013081055
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The Monetary Policy of the ECB : A Robin Hood Approach?
Drometer, Marcus - 2013
We derive counterfactual national interest rate paths for the 17 Euro Area countries for the period 1999 to 2012 to … which focus on countries which fare economically worse than the Euro Area average explain the EONIA path best …
Persistent link: https://www.econbiz.de/10013083869
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The Tragedy of the Commons and Inflation Bias in the Euro Area
Dinger, Valeriya - 2013
Central bank credit has expanded dramatically in some of the euro area member countries since the beginning of the … objectives among the national central banks in the euro area. We show that after 2007, central bank credit has been highly …
Persistent link: https://www.econbiz.de/10013089167
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National Representation in Multinational Institutions : The Case of the European Central Bank
Badinger, Harald - 2013
estimate Taylor rules for alternative sets of euro area aggregates derived from different weighting schemes of national …
Persistent link: https://www.econbiz.de/10013092423