Similar Search Results

Exploring the role of exchange rate in inflation targeting : evidence from Thailand

Pongsak Luangaram; Nipit Wongpunya - 2022

Persistent link: https://www.econbiz.de/10013262839

Inflation, deflation, and uncertainty : what drives euro area option-implied inflation expectations and are they still anchored in the sovereign debt crisis?

Scharnagl, Michael; Stapf, Jelena - 2014

We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on options on the euro area harmonized index of consumer...

Persistent link: https://www.econbiz.de/10010415789

COVID-19 and the fragmentation of the European interbank market

Pala, Melissa - 2024

transactional level allows me to apply advanced panel methods. Furthermore, this paper shows liquidity hoarding during the pandemic …

Persistent link: https://www.econbiz.de/10014481123

Banks' trading after the Lehman crisis : the role of unconventional monetary policy

Podlich, Natalia; Schnabel, Isabel; Tischer, Johannes - 2017

liquidity tightened after the Lehman collapse but there is no evidence of fire sales in the German banking sector. Instead, we … observe a broad-based flight to liquidity. The European Central Bank's unconventional monetary policy had a strong impact on … banks' trading behavior by inducing shifts towards eligible securities and reducing pressure on market liquidity. This …

Persistent link: https://www.econbiz.de/10011671299

What drives the German TARGET balances? : evidence from a BVAR approach

Bettendorf, Timo; Jochem, Axel - 2021

Applying a BVAR model, the present paper first identifies the possible drivers of Germany's TARGET claims. In this context, in terms of potential causes, a distinction is made between a rise in the global risk assessment, tensions within the euro area, and European monetary policy. It becomes...

Persistent link: https://www.econbiz.de/10012510162

Forceful or persistent : wow the ECB's new inflation target affects households' inflation expectations

Hoffmann, Mathias; Mönch, Emanuel; Pavlova, Lora; … - 2023

We study how households adjust their medium-term inflation expectations under the new ECB strategy. We find that survey respondents make little difference between the previous strategy of targeting inflation rates close to but below 2% and the new strategy with a symmetric 2% target. Yet,...

Persistent link: https://www.econbiz.de/10014391441

Forceful or persistent : how the ECB's new inflation target affects households' inflation expectations

Hoffmann, Mathias; Mönch, Emanuel; Pavlova, Lora; … - 2024

We study how households adjust their medium-term inflation expectations under the new ECB inflation targeting strategy. Survey respondents make little difference between the previous strategy of targeting inflation rates close to but below 2% and the new strategy with a 2% point target....

Persistent link: https://www.econbiz.de/10015323846

Inflation anchoring in the euro area

Speck, Christian - 2016

Did the decline in inflation rates from 2012 to 2015 and the low levels of market-based inflation expectations lead to de-anchored inflation dynamics in the euro area? This paper is the first time-varying event study to investigate the reaction of inflation-linked swap (ILS) rates - a...

Persistent link: https://www.econbiz.de/10011456474

How stressed are banks in the interbank market?

Abbassi, Puriya; Fecht, Falko; Weber, Patrick - 2013

recourse to the LOLR facility (a) to derive banks’ willingness-to-pay for liquidity through a one-week repo and (b) to show … results suggest (i) that banks’ willingness-to-pay for liquidity indeed reflects refinancing conditions in the interbank …

Persistent link: https://www.econbiz.de/10010192732

Excess reserves and monetary policy tightening

Fricke, Daniel; Greppmair, Stefan; Paludkiewicz, Karol - 2024 - This draft: February 2, 2024

We show that the transmission of the European Central Bank’s (ECB) recent monetary policy tightening differs across banks depending on their level of excess reserves. Specifically, the net worth of reserve-rich banks may display a boost when the interest rate paid on reserves increases...

Persistent link: https://www.econbiz.de/10014481115