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Monetary Transmission Right from the Start: The (Dis)Connection Between the Money Market and the ECB’s Main Refinancing Rates
Abbassi, Puriya; Nautz, Dieter - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2010
financial crisis. Since the start of the financial crisis, however, we find that MRO auction outcomes even exacerbated the …
Persistent link: https://www.econbiz.de/10008629519
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Monetary transmission right from the start: On the information content of the Eurosystem's main refinancing operations
Abbassi, Puriya; Nautz, Dieter - In: The North American Journal of Economics and Finance 23 (2012) 1, pp. 54-69
various aspects of an MRO auction outcome. Our results confirm that the level of MRO rates governed short-term money market …
Persistent link: https://www.econbiz.de/10010886090
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Monetary transmission right from the start: The (dis)connection netween the money market and the ECB's main refinancing rates
Abbassi, Puriya; Nautz, Dieter - Fachbereich Wirtschaftswissenschaft, Freie Universität … - 2010
financial crisis. Since the start of the financial crisis, however, we find that MRO auction outcomes even exacerbated the …
Persistent link: https://www.econbiz.de/10008554275
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Monetary Transmission Right from the Start: The (Dis)Connection Between the Money Market and the ECB’s Main Refinancing Rates
Abbassi, Puriya; Nautz, Dieter - Volkswirtschaftslehre-Lehrstühle, Gutenberg School of … - 2010
financial crisis. Since the start of the financial crisis, however, we find that MRO auction outcomes even exacerbated the …
Persistent link: https://www.econbiz.de/10008492218
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Auctions for Government Securities: A Laboratory Comparison of Uniform, Discriminatory and Spanish Designs
Abbink, Klaus; Brandts, Jordi; Pezanis-Christou, Paul - Departament d'Economia i Història Econòmica, … - 2002
The Bank of Spain uses a unique auction format to sell government bonds, which can be seen as a hybrid of a uniform and … a discriminatory auction. For winning bids above the average winning bid, buyers are charged the average winning bid …, otherwise they pay their respective bids. We report on an experiment that compares this auction format to the discriminatory …
Persistent link: https://www.econbiz.de/10005823990
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To switch or not to switch - Can individual lending do better in microfinance than group lending?
Waelde, Helke - Volkswirtschaftslehre-Lehrstühle, Gutenberg School of … - 2011
These days it has been witnessed, that banks other individual loans instead of group loans and develop products based on individual liability in developing coun- tries. In order to study this surprising turn, we expand the conventional approach on decision making of individuals. A social...
Persistent link: https://www.econbiz.de/10008872015
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Some preliminary but troubling evidence on group credits in microfinance programmes
Waelde, Helke - Volkswirtschaftslehre-Lehrstühle, Gutenberg School of … - 2010
Group lending programs are said to be the key factor of success of microÂ…nance. They are said to reduce information asymmetries in credit contracts and to increase repayment rates. Despite that, in recent years more and more individual credits without collateral are given, even if there is...
Persistent link: https://www.econbiz.de/10008876210
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Bidding Behavior in the SNB's Repo Auctions
Kraenzlin, Sébastien; Schlegel, Martin - Schweizerische Nationalbank (SNB) - 2009
determinant of the bidding behavior is the attractiveness of the SNB's auction rate compared to the prevailing interbank market …
Persistent link: https://www.econbiz.de/10008917444
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The Price of Liquidity: Bank Characteristics and Market Conditions
FECHT, Falko; NYBORG, Kjell G.; ROCHOLL, Jörg - 2010
We identify frictions in the market for liquidity as well as bank-specific and market-wide factors that affect the prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the overnight index swap. We have price data at the...
Persistent link: https://www.econbiz.de/10008922904
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The performance of the Eurosystem's fixed rate tenders since 2004: Theory and evidence
EWERHART, Christian; CASSOLA, Nuno; VALLA, Natacha - 2010
/CHF foreign exchange swaps. The mechanism is then studied in an auction-theoretic setting with privately known declining marginal …
Persistent link: https://www.econbiz.de/10008922907