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Zentralbank das Risiko für die verbleibenden privaten Anleihegläubiger erhöhen. Dies mag zunächst mit der Beobachtung unvereinbar …
Persistent link: https://www.econbiz.de/10011994801
The asset purchase program of the Euro area, active between 2015 and 2018, constitutes an interesting special case of Quantitative Easing (QE) because the ECB's (Public Sector Purchase Program) PSPP program involved the purchase of the bonds of peripheral Euro area governments, which were...
Persistent link: https://www.econbiz.de/10012031124
Eurozone, it appears difficult to find a distinct impact of the Fed’s QE1 on US interest rates for which the global environment …, recursive estimation methods. Using data between 2002 and 2014, we find limited evidence that QE1 caused a breakup or a … „Quantitative Easings“ der Federal Reserve auf den amerikanischen Zins erkennen. Ausgehend von diesem Ergebnis werden empirisch im …
Persistent link: https://www.econbiz.de/10011414128
This paper reviews the factors that will determine the shape of financial markets under EMU. It argues that financial markets will not be unified by the introduction of the euro. National central banks have a vested interest in preserving local idiosyncracies (e.g. the Wechsels in Germany) and...
Persistent link: https://www.econbiz.de/10009768844
After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...
Persistent link: https://www.econbiz.de/10014334696
After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...
Persistent link: https://www.econbiz.de/10014289709
Eurozone, it appears difficult to find a distinct impact of the Fed's QE1 on US interest rates for which the global environment …, recursive estimation methods. Using data between 2002 and 2014, we find limited evidence that QE1 caused a breakup or a …
Persistent link: https://www.econbiz.de/10013000543
. Taking panel data and using a fixed effects DFGLS estimation for a 12–country sample over the time period 1999 to 2011 with a …
Persistent link: https://www.econbiz.de/10013114710
Following the June 2012 European Council decision to place the ‘Single Supervisory Mechanism' (SSM) within the European Central Bank, the general presumption in the policy discussions has been that there should be ‘Chinese walls' between the supervisory and monetary policy arms of the ECB....
Persistent link: https://www.econbiz.de/10013089410
The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...
Persistent link: https://www.econbiz.de/10010261156