Showing 1 - 10 of 16
connect with a wider public are not in vain. In a randomised controlled trial, I focus on the determinants of trust in the … communication leads to greater trust in the central bank among the general public, as it has a positive impact on perceptions of the …
Persistent link: https://www.econbiz.de/10014342276
We study how financial market effciency affects a measure of diversification of output across industrial sectors borrowed from the portfolio allocation literature. Using data on sector-level value added for a wide cross section of countries and for various levels of disaggregation, we construct...
Persistent link: https://www.econbiz.de/10008688519
This paper studies frictions in the euro area interbank deposit overnight market, making use of high frequency individual quote and trade data. The aim of the analysis is to determine, in a quantitative way, how efficient this market is. Besides a comprehensive descriptive analysis, the approach...
Persistent link: https://www.econbiz.de/10002814269
Focusing on the foreign exchange reaction to macroeconomic announcements, we show that fast trading is positively and significantly correlated with the entropy of the distribution of quoted prices in reaction to news: a larger share of fast trading increases the degree of diversity of quotes in...
Persistent link: https://www.econbiz.de/10012037341
Persistent link: https://www.econbiz.de/10009766409
argue that the existing differences in interbank market usage can be explained by the trust of the market participants in …. Specifically, banks originating from a country that has lower level of trust tend to have lower interbank borrowing. Using a … proprietary dataset on bilateral exposures, we investigate the Euro Area interbank network and find the effect of trust relies on …
Persistent link: https://www.econbiz.de/10012163959
Media coverage of monetary policy actions is a central channel of a central bank's communication with the wider public, and thus an important factor for its credibility and policy effectiveness. This paper analyses the coverage which ECB monetary policy decisions receive in the print media, and...
Persistent link: https://www.econbiz.de/10003375096
predictions from a formal model, we present evidence that households' trust in financial advice only matters when their perceived … circumstances should not be much different. - Financial Advice ; Trust ; Consumer Protection ; Household Finance …
Persistent link: https://www.econbiz.de/10008901451
Transparency has become an almost universal virtue among central banks. The paper tests empirically, for the case of the Federal Reserve, two hypotheses about central bank transparency derived from the debate of Morris and Shin (2002) and Svensson (2006). First, the paper finds that the...
Persistent link: https://www.econbiz.de/10003599312
Persistent link: https://www.econbiz.de/10010516551