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Transmission of global financial shocks to EMU member states : the role of monetary policy and national factors
Gelman, Maria; Jochem, Axel; Reitz, Stefan - 2016
commercial banks to the Eurosystem's open market operations in conjunction with the redistribution of liquidity via the TARGET …
Persistent link: https://www.econbiz.de/10011495568
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The effects of regional banks on economic resilience during the COVID-19 pandemic and the global financial crisis a cross-country comparison of the European countries
Flögel, Franz; Hejnová, Tereza - 2021
An economy's ability to resist adverse shocks, such as an economic recession or natural disaster, is associated with its financial system structure due to different countercyclical funding capabilities. This paper uses a novel database of bank headquarter locations in a cross-country comparison...
Persistent link: https://www.econbiz.de/10012793620
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Financial shocks and the relative dynamics of tangible and intangible investment : evidence from the euro area
Gareis, Johannes; Mayer, Eric - 2020
We develop an extended real business cycle (RBC) model with financially con-strained firms and non-pledgeable intangible capital. Based on a model-consistentseries for firms’ borrowing conditions, we find, within a structural vector autoregres-sion (SVAR) framework, that, in response to an...
Persistent link: https://www.econbiz.de/10012256498
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Bank loan supply shocks and alternative financing of non-financial corporations in the euro area
Mandler, Martin; Scharnagl, Michael - 2019
Euro Area, Germany, France, Italy and Spain using a Bayesian vector autoregressive model with endogenous hyperparameter … distribution of their impulse responses with that of bank loans. For the Euro Area our results show equity, debt securities and non …
Persistent link: https://www.econbiz.de/10012034573
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Capital flows in the euro area and TARGET2 balances
Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2019
We estimate a panel VAR model for the euro area to quantitatively assess how the uneven recourse of national banking … systems in the euro area to the ECB's unconventional refinancing operations that led to the accumulation of large TARGET2 … evolution of aggregate economic activity in euro area member countries in the period 2008-2014. Our results suggest that the …
Persistent link: https://www.econbiz.de/10012034705
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Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus
Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020
exposure of banks to the debt issued by the national government. Our results suggest that euro area crisis countries' banks …
Persistent link: https://www.econbiz.de/10012197879
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To sign or not to sign? : on the response of prices to financial and uncertainty shocks
Meinen, Philipp; Röhe, Oke - 2018
uncertainty shocks in the euro area and the US, paying particular attention to their effects on prices. While our results confirm …
Persistent link: https://www.econbiz.de/10011897983
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The financial market effects of the ECB's asset purchase programs
Lewis, Vivien; Roth, Markus - 2017
to non-financial firms. Using a structural vector autoregression analysis, we find both in the euro area and in Germany a …
Persistent link: https://www.econbiz.de/10011712553
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Business cycles in EU member states
Buscher, Herbert S. - 1999
The paper investigates the business cycle relationships between the EU-15, the EU-11, as well as the EU-core countries for the period 1971 to 1997. Emphasis is put on the question whether there is a synchronization in the national business cycles or not. Using One-way- and Twoway-Anova...
Persistent link: https://www.econbiz.de/10013428213
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Non-tariff barriers and consumer prices: evidence from Brexit
Bakker, Jan David; Datta, Nikhil; Davies, Richard; De … - 2022
Persistent link: https://www.econbiz.de/10013472966