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Financial regulation in the EU : cross-border capital flows, systemic risk and the European Banking Union as reference points for EU financial market integration

Haar, Brigitte - 2014

This is a chapter for a forthcoming volume Oxford Handbook of Financial Regulation (Oxford University Press 2014) (eds …. Eilís Ferran, Niamh Moloney, and Jennifer Payne). It provides an overview of EU financial regulation from the first banking … the accommodation of cross-border capital flows and their regulation necessarily require an orchestration of the …

Persistent link: https://www.econbiz.de/10010372581

Sovereign credit risk, liquidity, and ECB intervention : deus ex machina?

Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide; … - 2015 - First draft: September 2013, This draft: March 2015

This paper examines the dynamic relationship between credit risk and liquidity in the sovereign bond market in the context of the European Central Bank (ECB) interventions. Using a comprehensive set of liquidity measures obtained from a detailed, quote-level dataset of the largest interdealer...

Persistent link: https://www.econbiz.de/10010503289

Trust me! : I am a European Central Banker

Bursian, Dirk; Fürth, Sven - 2012 - This version: June 2012

In the aftermath of the financial crisis, the ECB has experienced an unprecedented deterioration in the level of trust. This raises the question as to what factors determine trust in central banking. We use a unique cross-country dataset which includes a rich set of socio-economic...

Persistent link: https://www.econbiz.de/10010226924

Measuring sovereign contagion in Europe

Caporin, Massimiliano; Pelizzon, Loriana; Ravazzolo, … - 2015

This paper analyzes sovereign risk shift-contagion, i.e. positive and significant changes in the propagation mechanisms, using bond yield spreads for the major eurozone countries. By emphasizing the use of two econometric approaches based on quantile regressions (standard quantile regression and...

Persistent link: https://www.econbiz.de/10010527055

Solidarity without conditionality : comparing the EU Covid-19 safety nets SURE, pandemic Crisis Support, and European Guarantee Fund

Lindner, Vincent - 2022

This article compares the three initial safety nets spanned by the European Union in response to the Covid-19 crisis: SURE, the Pandemic Crisis Support, and the European Guarantee Fund. It compares their design regarding scope, generosity, target groups, implementation, the types of solidarity...

Persistent link: https://www.econbiz.de/10012797808

United in diversity? : the relationship between monetary policy and prudential supervision in the banking union

Goldmann, Matthias - 2017

Regulation is more likely to provoke the adoption of mutually defeating decisions by the Governing Board. The reputation of the …

Persistent link: https://www.econbiz.de/10012062103

United in Diversity? : the relationship between monetary policy and prudential supervision in the Banking Union

Goldmann, Matthias - 2017

decision-making, respectively. On the basis of a purposive reading of the monetary policy mandate and the SSM Regulation, the … smooth monetary policy transmission). Moreover, without a holistic approach, the SSM Regulation is more likely to provoke the …

Persistent link: https://www.econbiz.de/10011706314

Systemic risk and sovereign debt in the Euro area

Radev, Deyan - 2013

We introduce a new measure of systemic risk, the change in the conditional joint probability of default, which assesses the effects of the interdependence in the financial system on the general default risk of sovereign debtors. We apply our measure to examine the fragility of the European...

Persistent link: https://www.econbiz.de/10010226548

Central bank-driven mispricing

Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide; … - 2018 - This version: October 2018

We show that bond purchases undertaken in the context of quantitative easing efforts by the European Central Bank created a large mispricing between the market for German and Italian government bonds and their respective futures contracts. On top of the direct effect the buying pressure exerted...

Persistent link: https://www.econbiz.de/10012062155

How has sovereign bond market liquidity changed? : an illiquidity spillover analysis

Schneider, Michael; Lillo, Fabrizio; Pelizzon, Loriana - 2016

Amid increasing regulation, structural changes of the market and Quantitative Easing as well as extremely low yields …

Persistent link: https://www.econbiz.de/10011552483