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We examine howthe verbal complexity of ECB communications affectsfi-nancial market trading based on high-frequency data fromEuropean stock index futures trading. Studying the 34 events between May 2009 and June 2017, during which the ECB Governing Council press conferences covered unconventional...
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the euro area. First, regarding policy transmission we offer a three-stage procedure to combine the efficient estimation …
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event windows, we find shadow prime rate changes positively affect changes in the EURO-STOXX-Banks Future. Our findings add …
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In this paper, we analyse the effects of objective and subjective knowledge about monetary policy, as well as the information search patterns, of German citizens on trust in the ECB. We rely on a unique representative public opinion survey of German households conducted in 2011. We find that...
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