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A new approach to measuring competition in the loan markets of the euro area

van Leuvensteijn, Michiel; Bikker, Jacob A.; van … - 2007

This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This approach is able to measure competition of bank market segments, such as the loan market, whereas many well-known measures of competition can consider the entire banking market...

Persistent link: https://www.econbiz.de/10011604814

Product market structure and monetary policy: Evidence from the euro area

Ferrando, Annalisa; McAdam, Peter; Petroulakis, Filippos; … - 2021

Monetary policy aims at affecting corporate borrowing by influencing the marginal costs of firms, but its potency can be conditioned by the degree of market competition. We first identify conditions under which changes in marginal costs may have different effects on credit constraints and output...

Persistent link: https://www.econbiz.de/10012819046

A New Approach to Measuring Competition in the Loan Markets of the Euro Area

van Leuvensteijn, Michiel; Bikker, Jacob Antoon; van … - 2021

This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This approach is able to measure competition of bank market segments, such as the loan market, whereas many well - known measures of competition can consider the entire banking market...

Persistent link: https://www.econbiz.de/10013317045

Product Market Structure and Monetary Policy : Evidence from the Euro Area

Ferrando, Annalisa; McAdam, Peter; Petroulakis, Filippos; … - 2022

Persistent link: https://www.econbiz.de/10013308710

The longer term refinancing operations of the ECB

Linzert, Tobias; Nautz, Dieter; Bindseil, Ulrich - 2004

This paper employs individual bidding data to analyze the empirical performance of the longer term re?nancing operations (LTROs) of the European Central Bank (ECB). We investigate how banks’ bidding behavior is related to a series of exogenous variables such as collateral costs, interest rate...

Persistent link: https://www.econbiz.de/10011604405

Price effects of sovereign debt auctions in the Euro-zone: the role of the crisis

Beetsma, Roel; Giuliodori, Massimo; de Jong, Frank; … - 2013

increase in anticipation of auctions of new issues and decrease after the auction, while no or a smaller such effect is present …

Persistent link: https://www.econbiz.de/10011605640

Trading ahead of Treasury auctions

Sigaux, Jean-David - 2021

sales such as Treasury auctions. In the model, risk-averse investors expect an uncertain increase in the net supply of a …

Persistent link: https://www.econbiz.de/10013315375

Price Effects of Sovereign Debt Auctions in the Euro-zone : The Role of the Crisis

Beetsma, Roel M. W. J.; Giuliodori, Massimo; De Jong, Frank - 2021

increase in anticipation of auctions of new issues and decrease after the auction, while no or a smaller such effect is present …

Persistent link: https://www.econbiz.de/10013315717

Structural Econometric Approach to Bidding in the Main Refinancing Operations of the Eurosystem

Ewerhart, Christian; Cassola, Nuno; Morana, Claudio - 2021

This paper contributes to the existing literature on central bank repo auctions. It is based on a structural …

Persistent link: https://www.econbiz.de/10013316900

The Relationship between Central Bank Auctions and Bill Market Liquidity

Bats, Joost; Hoondert, Jurian J.A - 2022

This paper investigates the relationship between central bank (reverse) auctions and bill market liquidity. The … analysis includes data on the purchases of bills in the auctions by the Dutch Central Bank under the European Central Bank …’s Pandemic Emergency Purchase Programme (PEPP). The results indicate that auctions contribute to smooth market functioning. Two …

Persistent link: https://www.econbiz.de/10013403023