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ECB unconventional monetary policy : market impact and international spillovers
Fratzscher, Marcel; Lo Duca, Marco; Straub, Roland - In: IMF economic review 64 (2016) 1, pp. 36-74
Persistent link: https://www.econbiz.de/10011518154
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Commodity pricing, credit and capital flows : the role of financial intermediaries
Bierbaumer, Daniel - 2019
Persistent link: https://www.econbiz.de/10012111690
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Credit provision and banking stability after the Great Financial Crisis : the role of bank regulation and the quality of governance
Fratzscher, Marcel; König, Philipp Johann; Lambert, Claudia - In: Journal of international money and finance 66 (2016), pp. 113-135
Persistent link: https://www.econbiz.de/10011668454
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Equal size, equal role?
Ehrmann, Michael; Fratzscher, Marcel - 2004
This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU. Using real-time data, it addresses this issue from the perspective of financial markets by analysing the...
Persistent link: https://www.econbiz.de/10009639396
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Financial openness and growth
Fratzscher, Marcel; Bussiere, Matthieu - 2004
No empirical evidence has yet emerged for the existence of a robust positive relationship between financial openness and economic growth. This paper argues that a key reason for the elusive evidence is the presence of a time-varying relationship between openness and growth over time: countries...
Persistent link: https://www.econbiz.de/10009639402
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Taking stock
Ehrmann, Michael; Fratzscher, Marcel - 2004
This paper analyses the effects of US monetary policy on stock markets. We find that, on average, a tightening of 50 basis points reduces returns by about 3%. Moreover, returns react more strongly when no change had been expected, when there is a directional change in the monetary policy stance...
Persistent link: https://www.econbiz.de/10009639408
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Communication and exchange rate policy
Fratzscher, Marcel - 2004
This paper deals with the very short-term influence of "oral interventions" on the exchange rate of major currencies. The paper finds that official communication, as reported by wire services, are effective in influencing the US dollar-euro and yen-US dollar exchange rates in the desired...
Persistent link: https://www.econbiz.de/10009639417
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Exchange rates and fundamentals
Ehrmann, Michael; Fratzscher, Marcel - 2004
This paper analyses the link between economic fundamentals and exchange rates by investigating the importance of real-time data. We find that such economic news in the United States, Germany and the euro area have indeed been a driving force behind daily US dollar – euro/DEM exchange rate...
Persistent link: https://www.econbiz.de/10009639419
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Currency mismatch, uncertainty and debt maturity structure
Bussière, Matthieu; Fratzscher, Marcel; Koeniger, Winfried - 2004
The academic literature has so far little to say about the underlying causes of the large structural asset and liability imbalances of emerging markets that frequently contributed to financial crises. The aim of the paper is to contribute to filling this gap by proposing a theoretical model that...
Persistent link: https://www.econbiz.de/10009639469
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The role of central bank transparency for guiding private sector forecasts
Ehrmann, Michael; Eijffinger, Sylvester; Fratzscher, Marcel - 2010
expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional … forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies. It … finds evidence for a significant and sizeable effect of central bank transparency on forecast dispersion, be it by means of …
Persistent link: https://www.econbiz.de/10009640413