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Did interest rates at the zero lower bound affect lending of commercial banks? : evidence for the Euro area
Belke, Ansgar; Dreger, Christian - In: Jahrbücher für Nationalökonomie und Statistik 239 (2019) 5/6, pp. 841-861
Persistent link: https://www.econbiz.de/10012122225
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Did interest rates at the zero lower bound affect lending of commercial banks? : evidence for the euro area
Belke, Ansgar; Dreger, Christian - 2019
The paper examines the bank lending activities of banks in a low interest rate environment. External financing of small …- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based … on the Bankscope database, bank balance sheet data is utilized. Control variables are included, such as for the system of …
Persistent link: https://www.econbiz.de/10012063954
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How much fiscal backing must the ECB have? : the euro area is not the Philippines
Belke, Ansgar - 2010
The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations ("repo"). This has led some commentators to argue that the ECB needs "fiscal...
Persistent link: https://www.econbiz.de/10010208780
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How much fiscal backing must the ECB have? : the euro area is not the Philippines
Belke, Ansgar - 2010
losses. Thirdly, the ECB can draw on substantial reserves of the euro area national banks. -- Central bank independence … ; central bank capital ; counterparty risk ; repurchase agreements ; collateral ; fiscal backing ; liquidity ; haircuts …
Persistent link: https://www.econbiz.de/10003958658
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How much fiscal backing must the ECB have? : The Euro Area is not the Philippines
Belke, Ansgar - 2010
losses. Thirdly, the ECB can draw on substantial reserves of the euro area national banks. -- Central bank independence … ; central bank capital ; counterparty risk ; repurchase agreements ; collateral ; fiscal backing ; liquidity ; haircuts … sie sich einem ernsten Kreditrisiko (d.h. Ausfallrisiko) des privaten Sektors auf ihre besicherten Darlehen und ihre Repo …
Persistent link: https://www.econbiz.de/10003961044
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How much fiscal backing must the ECB have? : The euro area is not (yet) the Philippines
Belke, Ansgar; Polleit, Thorsten - In: International economics : a journal published by CEPII … 124 (2010) 4, pp. 5-30
Persistent link: https://www.econbiz.de/10009259587
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Sacrifice ratios for euro area countries : new evidence on the costs of price stability
Belke, Ansgar; Böing, Tobias - 2014
The purpose of this article is to deliver new estimates of the sacrifice ratio of Euro area countries. A high sacrifice ratio means a large loss of gross domestic product (GDP) or employment for a given reduction in inflation. In order to estimate the cost of adjustments in inflation rates by...
Persistent link: https://www.econbiz.de/10010429752
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Unconventional monetary policy and inflation expectations in the euro area
Aßhoff, Sina; Belke, Ansgar; Osowski, Thomas - 2020
With the ECB's policy rate having reached the zero lower bound, traditional monetary policy tools became ineffective and the ECB was forced to adopt a set of unconventional monetary policy (UMP) measures. This paper examines the effects of the ECB’s UMP on inflation expectations in the Euro...
Persistent link: https://www.econbiz.de/10012149519
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Current account imbalances and structural adjustment in the euro area: how to rebalance competitiveness
Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - 2009
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10003936156
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Current account imbalances and structural adjustment in the euro area : how to rebalance competitiveness?
Belke, Ansgar; Schnabl, Gunther; Zemanek, Holger - 2009
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10010206356