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One question at a time! : a text mining analysis of the ECB Q&A session

Angino, Siria; Robitu, Robert - 2023

domestic media in the European Union (EU) dedicate greater focus to national affairs and the more political dimensions of the …

Persistent link: https://www.econbiz.de/10014477700

Price setting on the two sides of the Atlantic : evidence from supermarket-scanner data

Karadi, Peter; Amann, Jurgen; Sánchez Bachiller, Javier; … - 2023

We compare supermarket price setting in the US and the euro area and assess its impact on food inflation. We introduce a novel scanner dataset of Germany, the Netherlands, France, and Italy (EA4) and contrast it with an equivalent dataset from the US. We find that both higher frequency and...

Persistent link: https://www.econbiz.de/10014477711

Monetary policy spillovers and the role of prudential policies in the European Union

Coman, Andra - 2023

-financial spillover effects of foreign monetary policy for all 28 EU countries. Using local projection methods, I show that EU countries … domestic prudential policies can dampen EU countries' exposure to foreign monetary policy and may be a useful tool in the face … of spillovers coming from centre countries and within the EU. …

Persistent link: https://www.econbiz.de/10014477716

Estimating systemic risk for non-listed euro-area banks

Engle, Robert F.; Emambakhsh, Tina; Manganelli, Simone; … - 2023

SRISK for non-listed banks, when compared with banks' capital depletion from the EU-wide stress testing exercises in 2018 …

Persistent link: https://www.econbiz.de/10014477734

A deep dive into the capital channel of risk sharing in the euro area

Martín Fuentes, Natalia; Born, Alexandra; Bremus, Franziska - 2023

This paper investigates the contribution of capital markets to international risk sharing in the euro area over the 2000Q1-2021Q1 period. It provides three main contributions: First, the estimation of country-specific vector autoregressions (VAR) shows that shock absorption through capital...

Persistent link: https://www.econbiz.de/10014482862

The bright side of the doom loop : banks' sovereign exposure and default incentives

Rojas, Luis E.; Thaler, Dominik - 2023

The feedback loop between sovereign and financial sector insolvency has been identified as a key driver of the European debt crisis and has motivated an array of policy proposals. We revisit this "doom loop" focusing on governments' incentives to default. To this end, we present a simple...

Persistent link: https://www.econbiz.de/10014482907

Monetary/fiscal policy regimes in post-war Europe

Bouabdallah, Othman; Jacquinot, Pascal; Patella, Valeria - 2023

In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three distinct monetary/fiscal regimes in France and Italy: a...

Persistent link: https://www.econbiz.de/10014482924

Do banks practice what they preach? : brown lending and environmental disclosure in the euro area

Gambacorta, Leonardo; Polizzi, Salvatore; Reghezza, Alessio - 2023

This study examines whether the level of environmental disclosure in banks' financial reports matches less brown lending portfolios. Using granular credit register data and detailed information on firm-level greenhouse gas emission intensities, we find a negative relationship between...

Persistent link: https://www.econbiz.de/10014482925

Macro and micro of external finance premium and monetary policy transmission

Altavilla, Carlo; Gürkaynak, Refet S.; Quaedvlieg, Rogier - 2024

We establish basic facts about the external finance premium. Tens of millions of individual loan contracts extended to euro area firms allow studying the determinants of the external finance premium at the country, bank, firm, and contract levels of disaggregation. At the country level, the...

Persistent link: https://www.econbiz.de/10014527119

Monetary policy strategies to navigate post-pandemic inflation : an assessment using the ECB's New Area-Wide Model

Darracq Pariès, Matthieu; Kornprobst, Antoine; … - 2024

We evaluate how the euro area economy would have performed since mid-2021 under alternative monetary policy strategies. We use the ECB's workhorse estimated DSGE model and contrast actual policy conduct against alternative strategies which differ in their "lower-for-longer" commitment as well as...

Persistent link: https://www.econbiz.de/10014527121