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effects. The announcement of an ECB euro liquidity line decreases the premium paid by foreign agents to borrow euros in FX … equity prices increase by around 1.75% in euro area countries highly exposed via banking linkages to countries whose …
Persistent link: https://www.econbiz.de/10015059508
increasingly integrated into the euro-zone area and that has a strong macroeconomic track record. We illustrate that neither the …
Persistent link: https://www.econbiz.de/10012677813
SJAASTAD MODEL -- IV. DATA -- V. ESTIMATION RESULTS -- VI. EUROPEAN ECONOMIES BEFORE AND AFTER THE INTRODUCTION OF THE EURO …
Persistent link: https://www.econbiz.de/10012690997
the United States, the euro area, and Japan in the emergence and evolution of today's global trade imbalances. Simulation … results based on a dynamic general equilibrium model of the world economy, and using the EU KLEMS database, indicate that TFP … 1999, as well as account for some the surpluses in the euro area and Japan. Differences in TFP developme …
Persistent link: https://www.econbiz.de/10012677719
We analyze the European Central Bank's (ECB's) response to the global financial crisis. Our results suggest that even during the crisis, the core part of ECB's monetary policy transmission-from policy rates to market rates-has continued to operate, but at a decreased efficiency. We also find...
Persistent link: https://www.econbiz.de/10012677859
money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of …
Persistent link: https://www.econbiz.de/10012677626
Intro -- Contents -- I. INTRODUCTION -- II. TAXONOMY OF UNDERLYING INFLATION INDICATORS -- III. FEATURES OF THE INDICATORS -- IV. FORECASTING METHODOLOGY AND ASSESSMENT OF FORECASTING PERFORMANCE -- V. CONCLUDING REMARKS -- References.
Persistent link: https://www.econbiz.de/10012690993
Persistent link: https://www.econbiz.de/10012691025
This paper reviews the trade-offs involved in the choice of the ECB's monetary policy operational framework. As long as the ECB's supply of reserves remains well in excess of the banks' demand, the ECB will likely continue to employ a floor system for implementing the target interest rate in...
Persistent link: https://www.econbiz.de/10015058579
subsample of euro area countries, we show that a) the pass-through in the post-pandemic hiking cycle has been heterogenous … non-financial corporation loans and time deposits in euro area countries; c) differences in pass-through over time and …
Persistent link: https://www.econbiz.de/10015058763