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Convergence of monetary transmission in EMU new evidence

Toolsema-Veldman, Linda Adriana; Sturm, Jan-Egbert; … - 2001

whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the …

Persistent link: https://www.econbiz.de/10011398432

Ordoliberalism, pragmatism and the Eurozone crisis : how the German tradition shaped economic policy in Europe

Feld, Lars P.; Köhler, Ekkehard A.; Nientiedt, Daniel - 2015 - This version: May 18, 2015

German policy during the Eurozone crisis supposedly follows an ordoliberal tradition. In this paper, we discuss to what … extent this contention holds and to what extent Germany pragmatically responded to different crisis phenomena. A proper … economic constitution for Europe in which several pillars supposedly aim at ensuring sound money in the Eurozone. The policies …

Persistent link: https://www.econbiz.de/10010528303

Look who's talking : ECB communication during the first years of EMU

Jansen, David-Jan; Haan, Jakob de - 2004

This paper studies ECB and Bundesbank communication on monetary policy during the first years of the European Economic and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and whether differences have diminished over time. We find that...

Persistent link: https://www.econbiz.de/10011450560

Seignorage wealth in the Eurosystem : eurowinners and eurolosers revisited

Sinn, Hans-Werner; Feist, Holger - 2000

wealth equivalents and anticipating the Greek participation, Germany will lose 30 billion (or 59 billion deutschmarks) and …

Persistent link: https://www.econbiz.de/10009781634

Differences in euro-area household finances and their relevance for monetary-policy transmission

Hintermaier, Thomas; Koeniger, Winfried - 2018

prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life …

Persistent link: https://www.econbiz.de/10011863469

The effects of monetary policy surprises and fiscal sustainability regimes in the Euro Area

Afonso, António; Alves, José; Ionta, Serena - 2023

projection model for the Euro Area (aggregate data), Germany, Italy, and Portugal, we analyze the interaction between both …

Persistent link: https://www.econbiz.de/10014313459

One country, one vote? : labor market structure and voting rights in the ECB

Berger, Helge; Hefeker, Carsten - 2004

The pending enlargement of the European Monetary Union (EMU) has brought to the fore the discussion of the voting right distribution in the European Central Bank (ECB) council. We show that, in a model where labor unions internalize the inflationary consequences of wage setting, deviating from a...

Persistent link: https://www.econbiz.de/10011402520

Effectiveness and transmission of the ECB's balance sheet policies

Boeckx, Jef; Bossche, Maarten; Peersman, Gert - 2014

We estimate the effects of exogenous innovations to the balance sheet of the ECB since the start of the financial crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial markets, and has a positive impact on economic activity...

Persistent link: https://www.econbiz.de/10010383862

The interest rate pass-through in the Euro area during the global financial crisis : conference paper

Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 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 is...

Persistent link: https://www.econbiz.de/10010338974

Unconventional monetary policy in the euro area : impacts on loans, employment, and investment

Afonso, António; Pereira, Francisco Gomes - 2022

Using a difference-in-differences identification strategy on a micro panel at the bank and firm level, we study the transmission effectiveness of ECB’s large-scale asset purchasing programs programs (i.e. APP and PEPP) in the Euro area. Our findings show: first, balance sheet composition of...

Persistent link: https://www.econbiz.de/10012888479

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