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Macroprudential policy and the sovereign-bank nexus in the euro area

Hristov, Nikolay; Hülsewig, Oliver; Kolb, Benedikt - 2021

banking sectors to domestic government debt, thus strengthening or weakening the sovereign-bank nexus. To do so, we construct … banks' exposure to domestic sovereign bonds in the periphery countries and thus deepens the sovereign-bank nexus. By …

Persistent link: https://www.econbiz.de/10012628800

Euro area house prices and unconventional monetary policy surprises

Hülsewig, Oliver; Rottmann, Horst - 2021

This paper examines the reaction of house prices in a panel of euro area countries to monetary policy surprises over the period 2010-2019. Using Jordà’s (2005) local projection method, we find that real house prices rise in response to expansionary monetary policy shocks that can be related...

Persistent link: https://www.econbiz.de/10012509392

Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus

Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020

holdings in response to non-standard monetary policy shocks, thereby possibly promoting the sovereign-bank nexus, i.e. the …

Persistent link: https://www.econbiz.de/10012194625

The Euro area periphery sovereigns' fiscal positions and unconventional monetary policy

Hülsewig, Oliver; Scharler, Johann - 2020

We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...

Persistent link: https://www.econbiz.de/10012154910

Unemployment in the euro area and unconventional monetary policy surprises

Hülsewig, Oliver; Rottmann, Horst - 2022

We examine the impact of the European Central Bank's monetary policy on the euro area labor markets over the period …

Persistent link: https://www.econbiz.de/10013453816