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der Eurozone trotz der massiven Herabsetzung der Leitzinsen nahezu kaum gesunken sind. Ziel des OMT-Programms ist es …
Persistent link: https://www.econbiz.de/10010877457
We evaluate the ECB’s monetary policy strategy against the underlying economic structure of the euro area economy, in normal times and in times of severe financial dislocations. We show that in the years preceding the financial crisis that started in 2007 the strategy was successful at...
Persistent link: https://www.econbiz.de/10009002548
Turkey experienced a financial crisis in 2000-2001 that led to significant financial reforms. The reforms resulted in a switch to a floating exchange rate, granted greater central bank independence and pursuit of a more credible monetary policy. Investigation of the channels of monetary policy...
Persistent link: https://www.econbiz.de/10010895246
In this paper, we present euro area money demand functions estimated for the sample period ranging from January 1994 to November 2010 with total and partial time-varying coefficients accounting for two structural changes. For this purpose, we make use of two different procedures viz. the Lee and...
Persistent link: https://www.econbiz.de/10010816794
The creation of EMU raises the question whether the common monetary policy has the same impact in all member countries. We analyse the convergence of interest rates in four major EMU countries from 1999 to 2007. We suggest to test the convergence of the interest rates with the full term...
Persistent link: https://www.econbiz.de/10008755247
The Eurosystem has been pursuing a crisis management policy for more than four years now. This policy aims primarily at maintaining financial stability in the euro area by providing vast liquidity support to commercial banks that are operating in nationally segmented banking systems. As a side...
Persistent link: https://www.econbiz.de/10010886947
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10009391856
The government debt crisis, erupted in the Eurozone in 2009, nearly led to the collapse of European monetary union. Now … that this has been averted, the question is what should be done to make the Eurozone sustainable in the long run. The … survival of the Eurozone hinges on the capacity of its leaders to improve the eurozone's governance. With the exception of …
Persistent link: https://www.econbiz.de/10010741253