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Central bank announcements move financial markets. The response of inflation and growth expectations, on the other hand, is often small or even counterintuitive. Based on tick-by-tick futures prices on bonds and stock prices, I confirm these seemingly puzzling results for the euro area and...
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The European Central Bank's asset purchase programs, while intended to stabilize the economy, may have unintended side …
Persistent link: https://www.econbiz.de/10011712553
Have bank regulatory policies and unconventional monetary policies - and any possible interactions - been a factor behind the recent "deglobalisation" in cross-border bank lending? To test this hypothesis, we use bank-level data from the United Kingdom - a country at the heart of the global...
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This paper explores the impacts on an economy of a central bank changing the size and composition of its balance sheet …
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This paper investigates the effect of quantitative easing (QE) and other unconventional monetary policies on inflation and wage expectations of UK manufacturing firms. To identify the effect of QE on firms' expectations, we use a novel approach of combining microeconometric data with...
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then explore the transmission channels to the domestic economy and emerging markets. Our results suggest that asset …
Persistent link: https://www.econbiz.de/10010403096
The UK economy has experienced significant macroeconomic adjustments following the 2016 referendum on its withdrawal … from the European Union. This paper develops and estimates a small open economy model with tradable and non … the model economy to such news are consistent with key patterns in UK data. While overall economic growth slows, an …
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