Similar Search Results

Demand for Central Bank Reserves and Monetary Policy Implementation Frameworks : The Case of the Eurosystem

Åberg, Pontus; Corsi, Marco; Grossmann-Wirth, Vincent; … - 2021

This paper discusses commercial banks’ demand for central bank reserves under two alternative monetary policy framework configurations, namely: (i) an interest rate corridor system with scarce liquidity, and (ii) a floor system with ample liquidity. It outlines the interaction between the...

Persistent link: https://www.econbiz.de/10013212033

Money, Reserves, and the Transmission of Monetary Policy : Does the Money Multiplier Exist?

Carpenter, Seth B. - 2011

trillion. The effect of reserve balances in simple macroeconomic models often comes through the money multiplier, affecting the … money supply and the amount of bank lending in the economy. Most models currently used for macroeconomic policy analysis …, however, either exclude money or model money demand as entirely endogenous, thus precluding any causal role for reserves and …

Persistent link: https://www.econbiz.de/10013122094

The Correlation Between Money and Output in the United Kingdom : Resolution of a Puzzle

Nelson, Edward - 2012

Friedman and Schwartz (1982) and Goodhart (1982) report a zero correlation between money growth and output growth in U … money growth/output growth correlation is indeed recoverable from U.K. historical data. Strike activity in the 1970s and … correlation between money and output in the United Kingdom …

Persistent link: https://www.econbiz.de/10013106773

Evolution of the Ecb's Analytical Framework

Holm-Hadulla, Federic; Musso, Alberto; Vlassopoulos, Thomas - 2021

This paper discusses the role of economic and monetary analysis in the monetary policy strategy of the European Central Bank (ECB). Both areas of analysis have evolved since the 2003 strategy review. Economic analysis has assigned an increasingly relevant role to the Eurosystem and ECB staff...

Persistent link: https://www.econbiz.de/10013210828

Monetary policy and bank equity values in a time of low and negative interest rates

Ampudia, Miguel; Heuvel, Skander van den - 2019

Does banks' exposure to interest rate risk change when interest rates are very low or even negative? Using a high-frequency event study methodology and intraday data, we find that the effect of surprise interest rate cuts announced by the ECB on European bank equity values - an effect that is...

Persistent link: https://www.econbiz.de/10012182094

The Use of Cash by Households in the Euro Area

Esselink, Henk - 2017

Although euro banknotes and coins have been in circulation for fifteen years, not much is known about the actual use of cash by households. This paper presents an estimation of the number and value of cash transactions in all 19 euro area countries in 2016, based on survey results. It presents...

Persistent link: https://www.econbiz.de/10012942685

Catch Me (If You Can) : Assessing the Risk of SARS-CoV-2 Transmission Via Euro Cash

Tamele, Barbora; Zamora-Pérez, Alejandro; Litardi, Chiara - 2021

In the light of fears that the SARS-CoV-2 virus might be transmitted via cash – fears that were stoked by statements in the media and from public authorities – this paper aims to address the following issues: (1) to provide a descriptive account of the change in the circulation of euro...

Persistent link: https://www.econbiz.de/10013217793

The Analytical Credit Dataset. A Magnifying Glass for Analysing Credit in the Euro Area

Israel, Jean Marc - 2017

In May 2016 the Governing Council adopted the AnaCredit Regulation (ECB/2016/13) providing the legal basis for the European System of Central Banks (ESCB) to collect granular information on loans from banks to corporates and other legal persons based on a core set of harmonised concepts and...

Persistent link: https://www.econbiz.de/10012954335

Non-Linear Phillips Curves with Inflation Regime-Switching

Nalewaik, Jeremy - 2016

Building on the results in Nalewaik (FEDS 2015-93), this work models wage growth and core PCE price inflation as regime-switching processes, whose characteristics in the 1970s, 1980s and early 1990s differ fundamentally from their characteristics in the 1960s and from the mid-1990s to present....

Persistent link: https://www.econbiz.de/10013210454

Revisiting the Monetary Presentation of the Euro Area Balance of Payments

Picón Aguilar, Carmen - 2020

flows between resident money holders and the rest of the world. This is possible thanks to the monetary presentation of the …

Persistent link: https://www.econbiz.de/10012841808

1
2
3
4
5
6
7
8
9
10
Next
Last