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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

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

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

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

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

Media treatment of monetary policy surprises and their impact on firms' and consumers' expectations

Pinter, Julien; Kočenda, Evžen - 2023

Do firms' and consumers' expectations react to central bank announcements? Past literature has come to divergent conclusions, but it has systematically ignored how media treat the announcements. This paper investigates the link between monetary policy announcements and expectations by taking...

Persistent link: https://www.econbiz.de/10014267174