Narrow search
Showing 1 - 10 of 680
Cover Image
Monetary transmission right from the start : the (dis)connection netween the money market and the ECB’s main refinancing rates
Abbassi, Puriya; Nautz, Dieter - 2010
The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission … process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO … allotment policy introduced by the ECB as an unconventionalmeasure to re-stabilize banks' refinancing conditions. -- Financial …
Persistent link: https://www.econbiz.de/10003962841
Cover Image
Talking less and moving the market more : is this the recipe for monetary policy effectiveness? ; evidence from the ECB and the Fed
Rosa, Carlo (contributor) - 2008
Persistent link: https://www.econbiz.de/10003649884
Cover Image
Soft budget constraints, European Central Banking and the financial crisis
Jäger, Jannik; Grigoriadis, Theocharis - 2016
During the European financial crisis, the European Central Bank implemented a series of unconventional monetary policy measures. We argue that these unconventional monetary policy measures created soft budget constraints for the Eurozone countries by lowering their bond yield spreads. This...
Persistent link: https://www.econbiz.de/10011456884
Cover Image
Effects of the ECB's communication on government bond spreads
Camarero Garcia, Sebastian; Neugebauer, Frederik; … - 2023
Programme (PEPP). Using data for 10 euro area countries, we first analyse the impact of different communication channels such as …
Persistent link: https://www.econbiz.de/10014330976
Cover Image
Maturity shortening and market failure
Thierfelder, Felix - 2012
Motivated by the financial crisis of 2007-2009 several papers have provided explanations for why liquidity may dry up during market stress. This paper also looks at this issue but focuses on the question as to why the liquidity crunch was not uniform across maturities. As funding pressures were...
Persistent link: https://www.econbiz.de/10009509089
Cover Image
Long-term deposit funding and demand for central bank funds : evidence from targeted longer-term refinancing operations
Fudulache, Adina-Elena; Götz, Martin - 2023 - March 7, 2023
funding via targeted longer-term refinancing operations (TLTRO). This effect is stronger when banks face less competition …
Persistent link: https://www.econbiz.de/10014320568
Cover Image
The interest rate pass-through in the euro area during the sovereign debt crisis
Borstel, Julia von; Eickmeier, Sandra; Krippner, Leo - 2015
We investigate the pass-through of monetary policy to bank lending rates in the euro area during the sovereign debt …
Persistent link: https://www.econbiz.de/10011280074
Cover Image
Cross-border liquidity, relationships and monetary policy : evidence from the Euro area interbank crisis
Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - 2014 - This version: November 2014
We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...
Persistent link: https://www.econbiz.de/10010471858
Cover Image
The (ir)relevance of the nominal lower bound for real yield curve analysis
Schupp, Fabian - 2020
I propose a new term structure model for euro area real and nominal interest rates which explicitly incorporates a time …
Persistent link: https://www.econbiz.de/10012222610
Cover Image
With a little help from my friends : survey-based derivation of euro area short rate expectations at the effective lower bound
Geiger, Felix; Schupp, Fabian - 2018
-varying effective lower bound. These challenges all weigh heavily when estimating a DTSM for the euro area OIS yield curve. Against this …
Persistent link: https://www.econbiz.de/10011888340