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Volatility patterns of CDS, bond and stock markets before and during the financial crisis : evidence from major financial institutions

Belke, Ansgar; Gokus, Christian - 2011

This study is motivated by the development of credit-related instruments and signals of stock price movements of large banks during the recent financial crisis. What is common to most of the empirical studies in this field is that they concentrate on modeling the conditional mean. However,...

Persistent link: https://www.econbiz.de/10009347974

Freeze! : financial sanctions and bank responses

Efing, Matthias; Goldbach, Stefan; Nitsch, Volker - 2018

We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...

Persistent link: https://www.econbiz.de/10011952047

The importance of global shocks for national policymakers : rising challenges for central banks

Belke, Ansgar; Rees, Andreas - 2009

We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...

Persistent link: https://www.econbiz.de/10003879570

Does the ECB rely on a Taylor rule? : comparing ex-post with real time data

Belke, Ansgar; Klose, Jens - 2009

"true" forecasts of real time data for several periods are employed. -- European Central Bank ; monetary policy ; real time …

Persistent link: https://www.econbiz.de/10003872913

Central bank boards around the world : why does membership size differ?

Berger, Helge (contributor); Nitsch, Volker (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003462873

(How) do the ECB and the Fed react to financial market uncertainty? : the Taylor rule in times of crisis

Belke, Ansgar; Klose, Jens - 2010

in order to account for variations within these variables over time. We argue that measures of money and credit growth … the Fed is concerned, the impact of consumer price inflation, and money and credit growth turns negative during the crisis … the ECB during the crisis. -- Subprime crisis ; federal reserve ; European Central Bank ; equilibrium real interest rate …

Persistent link: https://www.econbiz.de/10003931051

Monetary policy, global liquidity and commodity price dynamics

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010

This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For …, money (defined as a global liquidity aggregate) is still a key factor to determine the long-run homogeneity of commodity …

Persistent link: https://www.econbiz.de/10003934679

Global liquidity, world savings glut and global policy coordination

Belke, Ansgar; Gros, Daniel - 2010

inflation. This renders it difficult for central bank to exit from their current very expansive monetary policy stance if they …

Persistent link: https://www.econbiz.de/10003934687

Financial crisis, global liquidity and monetary exit strategies

Belke, Ansgar - 2010

We develop a roadmap of how the ECB should further reduce the volume of money (money supply) and roll back credit …

Persistent link: https://www.econbiz.de/10003958646

Too many cooks? : committees in monetary policy

Berger, Helge (contributor); Nitsch, Volker (contributor) - 2008

Persistent link: https://www.econbiz.de/10003674426