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Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2021

Media coverage of monetary policy actions is a central channel of a central bank's communication with the wider public … monetary policy decisions receive in the print media, and the determinants of its extent and of its favorableness. We find that … inflation environment, and that the media's coverage of decisions is generally highly responsive to ECB communication - in …

Persistent link: https://www.econbiz.de/10013317451

Virtual Proximity and Audiovisual Services Trade

Hellmanzik, Christiane - 2015

Audiovisual services such as music and movies in digital formats have gained substantial importance over the last decade. This paper analyses audiovisual services in a gravity model framework. In particular, we explore the role of virtual proximity -- a new proxy for cultural proximity based on...

Persistent link: https://www.econbiz.de/10013019590

Bank Lending in the Knowledge Economy

Dell’Ariccia, Giovanni - 2020

We study the composition of bank loan portfolios during the transition of the real sector to a knowledge economy where firms increasingly use intangible capital. Exploiting heterogeneity in bank exposure to the compositional shift from tangible to intangible capital, we show that exposed banks...

Persistent link: https://www.econbiz.de/10012830015

GDP-Inflation Cyclical Similarities in the CEE Countries and the Euro Area

Macchiarelli, Corrado - 2013

cycle and the euro area evolved over time, we find that inflation conditional correlation increased stemming from the EU …

Persistent link: https://www.econbiz.de/10013081633

Adjusting to the Euro

Fagan, Gabriel - 2007

In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households'...

Persistent link: https://www.econbiz.de/10012778006

Fiscal Convergence Before Entering the Emu

Onorante, Luca - 2006

the European Union (EU), followed by participation in the so-called Exchange Rate Mechanism (ERM) II and ultimately entry …

Persistent link: https://www.econbiz.de/10012779801

Inflation Persistence : Euro Area and New EU Member States

Franta, Michal - 2009

Is inflation persistence in the new EU Member States (NMS) comparable to that in the euro area countries? We argue that …

Persistent link: https://www.econbiz.de/10012767014

Optimal Reserve Composition in the Presence of Sudden Stops : The Euro and the Dollar as Safe Haven Currencies

Beck, Roland - 2008

We analytically derive optimal central bank portfolios in a minimum variance framework with two assets and quot;transaction demandsquot; caused by sudden stops in capital inflows. In this model, the transaction demands become less important relative to traditional portfolio objectives as debt to...

Persistent link: https://www.econbiz.de/10012771394

Cross-Border Production Chains and Business Cycle Co-Movement between Central and Eastern European Countries and Euro Area Member States

Iossifov, Plamen K. - 2021

In this paper, we highlight the role of global value chains in the synchronization of economic activity between countries in Central and Eastern Europe (CEE) and the euro area. We start off by demonstrating that the degree of synchronization of the business cycles of CEE countries and their main...

Persistent link: https://www.econbiz.de/10013315647

The Political Economy Under Monetary Union : Has the Euro Made a Difference?

Fratzscher, Marcel; Stracca, Livio - 2021

Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...

Persistent link: https://www.econbiz.de/10013316460

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