Narrow search
Showing 1 - 10 of 1,244
Cover Image
Using intraday data to gauge financial market responses to Fed and ECB monetary policy decisions
Andersson, Magnus (contributor) - 2007
This paper examines bond and stock market volatility reactions in the euro area and the US following their respective economies' monetary policy decisions, over a uniform sample period (April 1999 to May 2006). For this purpose, intraday data on the US and euro area bond and stock markets are...
Persistent link: https://www.econbiz.de/10003422693
Cover Image
Maintaining low inflation : money, interest rates, and policy stance
Reynard, Samuel (contributor) - 2007
This paper presents a systematic empirical relationship between money and subsequent prices and output, using US, euro area and Swiss data since the 1960-70s. Monetary developments, unlike interest rate stance measures, are shown to provide qualitative and quantitative information on subsequent...
Persistent link: https://www.econbiz.de/10003473013
Cover Image
Unconventional monetary policy and the great recession : estimating the impact of a compression in the yield spread at the zero lower bound
Baumeister, Christiane; Benati, Luca - 2010
We explore the macroeconomic impact of a compression in the long-term bond yield spread within the context of the Great Recession of 2007-2009 via a Bayesian time-varying parameter structural VAR. We identify a 'pure' spread shock which, leaving the short-term rate unchanged by construction,...
Persistent link: https://www.econbiz.de/10008688522
Cover Image
The effects of monetary policy on unemployment dynamics under model uncertainty : evidence from the US and the euro area ( by Carlo Altavilla and Matteo Ciccarelli
Altavilla, Carlo; Ciccarelli, Matteo - 2009
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10003963762
Cover Image
Bank heterogeneity and monetary policy transmission
Brissimis, Sophocles N.; Delēs, Manthos D. - 2010
Heterogeneity in the response of banks to a change in monetary policy is an important element in the transmission of this policy through banks. This paper examines the role of bank liquidity, capitalization and market power as internal factors influencing banks' reaction in terms of lending and...
Persistent link: https://www.econbiz.de/10008657136
Cover Image
Macroeconomic rates of return of public and private investment : crowding-in and crowding-out effects
Afonso, António (contributor);  … - 2008
Using annual data from 14 European Union countries, plus Canada, Japan and the United States, we evaluate the macroeconomic effects of public and private investment through VAR analysis. From impulse response functions, we are able to assess the extent of crowding-in or crowding-out of both...
Persistent link: https://www.econbiz.de/10003747969
Cover Image
The timing of central bank communication
Ehrmann, Michael (contributor);  … - 2005
This paper explores whether there are systematic patterns as to when members of the decision-making committees of the Federal Reserve, the Bank of England and the European Central Bank communicate with the public, and under what circumstances such communication has the ability to move financial...
Persistent link: https://www.econbiz.de/10003230443
Cover Image
US monetary policy spillovers to European banks
Jung, Alexander - 2023
The Federal Reserve's (Fed) monetary policy announcements have created massive spillovers to global financial markets. Based on daily data for the sample from 1999 to 2019, this study finds that the Fed's monetary policy announcements created significant international spillovers to bond yields...
Persistent link: https://www.econbiz.de/10014483005
Cover Image
The impact of environmental regulation on clean innovation : are there crowding out effects?
Benatti, Nicola; Groiss, Martin; Kelly, Petra; … - 2024
We examine the extent to which environmental regulation affects innovation and which policy types provide the strongest … environmental technology innovation. At the firm-level, however, environmental policy tightening leads to higher innovation activity … in technologies mitigating climate change, while the effect on innovation in other technologies is muted. This suggests …
Persistent link: https://www.econbiz.de/10014558850
Cover Image
Whatever it takes to save the planet? : central banks and unconventional green policy
Ferrari, Alessandro; Landi, Valerio Nispi - 2020
We study the effects of a temporary Green QE, defined as a policy that temporarily tilts the central bank's balance sheet toward green bonds, i.e. bonds issued by firms in non-polluting sectors. To this purpose, we merge a standard DSGE framework with an environmental model. In our model,...
Persistent link: https://www.econbiz.de/10012384477