Similar Search Results

Optimal allotment policy in the Eurosystem's main refinancing operations

Ewerhart, Christian; Cassola, Nuno; Ejerskov, Steen; … - 2003

" benchmark allotment rule, with the effect of not alleviating a temporary liquidity shortage in the banking system. This is … the present paper, we show that when the monetary authority cares for both liquidity and interest rate conditions, the … threshold level for the accumulated aggregate liquidity position in the banking system prior to the last operation in a given …

Persistent link: https://www.econbiz.de/10009636518

Structural econometric approach to bidding in the main refinancing operations of the Eurosystem

Cassola, Nuno (contributor); Ewerhart, Christian (contributor) - 2007

increases with liquidity uncertainty and decreases with the number of participants …

Persistent link: https://www.econbiz.de/10003516661

The 2007 subprime market crisis through the lens of European Central Bank auctions for short-term funds

Cassola, Nuno; Hortaçsu, Ali; Kastl, Jakub - 2011

We study European banks’ demand for short-term funds (liquidity) during the summer 2007 subprime market crisis. We use … ; structural estimation ; subprime market ; liquidity crisis …

Persistent link: https://www.econbiz.de/10009380433

Euro money market spreads during the 2007-? financial crisis

Cassola, Nuno; Morana, Claudio - 2012

Persistent link: https://www.econbiz.de/10009765207

The reserve fulfilment path of euro area commercial banks : empirical testing using panel data

Cassola, Nuno (contributor) - 2008

The theory of liquidity management under uncertainty predicts that, under certain conditions, commercial banks will … banks which build-up excess reserves. The empirical analysis suggest that idiosyncratic liquidity uncertainty is much higher … than aggregate liquidity uncertainty. Nevertheless, on the penultimate day in the reserve maintenance period, the inverse …

Persistent link: https://www.econbiz.de/10003747983

Comovements in volatility in the euro money market

Cassola, Nuno (contributor); Morana, Claudio (contributor) - 2006

This paper assesses the sources of volatility persistence in Euro Area money market interest rates and the existence of linkages relating volatility dynamics. The main findings of the study are as follows. Firstly, there is evidence of stationary long memory, of similar degree, in all series....

Persistent link: https://www.econbiz.de/10003397996

Monetary policy and the stock market in the euro area

Cassola, Nuno; Morana, Claudio - 2002

Persistent link: https://www.econbiz.de/10001670882

The impact of the ECB's conventional and unconventional monetary policies on stock markets

Haitsma, Reinder; Unalmis, Deren; Haan, Jakob de - In: Journal of macroeconomics 48 (2016), pp. 101-116

Persistent link: https://www.econbiz.de/10011707746

The impact of providing information about the ECB's instruments on inflation expectations and trust in the ECB : experimental evidence

Brouwer, Nils; Haan, Jakob de - In: Journal of macroeconomics 73 (2022), pp. 1-15

Persistent link: https://www.econbiz.de/10013443871