Narrow search
Showing 1 - 10 of 26,831
Cover Image
Asset Prices in Taylor Rules : Specification, Estimation, and Policy Implications for the ECB
Siklos, Pierre L. - 2016
Persistent link: https://www.econbiz.de/10012991350
Cover Image
Euro Area Inflation Persistence
Batini, Nicoletta - 2021
This paper presents evidence on the lag between monetary policy actions and the response of inflation in the euro area as a whole and in Germany, Italy and France. In line with findings for the US and the UK, results here show that this lag is longer than one year both in the euro area and in...
Persistent link: https://www.econbiz.de/10013320116
Cover Image
Using Money Market Rates to Assess the Alternatives of Fixed vs. Variable Rate Tenders : The Lesson from 1989-1998 Data for Germany
Manna, Michele - 2021
This paper uses the variability of money market rates to compare the conduct of the central bank's key market operation as a fixed-rate tender (FRT) or a variable-rate tender (VRT). Nowadays, leading central banks generally use FRTs or other approaches (e.g. target rates) which yield step...
Persistent link: https://www.econbiz.de/10013320189
Cover Image
How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area
Batini, Nicoletta; Cantelmo, Alessandro; Melina, Giovanni; … - 2020
This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint monetary and fiscal policy stance in the euro area (EA) and its three largest member countries over the period 2007-2018. The index is based on the relative...
Persistent link: https://www.econbiz.de/10014092440
Cover Image
Asset Prices in Taylor Rules: Specification, Estimation, and Policy Implications for the ECB
Siklos, Pierre L.; Werner, Thomas; Bohl, Martin T. - 2004
This paper estimates standard and extended Taylor rules for core countries in the euro area, namely France, Germany and Italy, as well as for the ECB. Forward, backward and forecast-based rules are estimated for a variety of samples since the late 1970s. We are particularly interested in the...
Persistent link: https://www.econbiz.de/10010295649
Cover Image
An estimated DSGE model for the German economy within the euro area
Pytlarczyk, Ernest - 2005
This paper presents an estimated DSGE model for the European Monetary Union. Our approach, contrary to the previous studies, accounts for heterogeneity within the euro area. We advance the empirical literature by estimating an open-economy model with unfiltered data, which is a much more...
Persistent link: https://www.econbiz.de/10010295778
Cover Image
Liquidity Crunch in Late 2008 : High-Frequency Differentials Between Forward-Implied Funding Costs and Money Market Rates
Yiu, Matthew S. - 2010
rate cuts, to ease the liquidity crunch in the financial markets following the collapse of Lehman Brothers. Using high … the 2008 global financial turmoil, this study examines the variations of intraday funding liquidity across the global … undertaken by central banks affect the dynamics of market liquidity conditions. Similar to Hui et al. (2009), the paper uses the …
Persistent link: https://www.econbiz.de/10013136586
Cover Image
Bargaining power and outside options in the interbank lending market bargaining power and outside options in the interbank lending market
Abbassi, Puriya; Bräuning, Falk; Schulze-Stahl, Niels G. - 2020 - This version: June 2020
We study the role of bargaining power and outside options with respect to the pricing of over-the-counter interbank loans using a bilateral Nash bargaining model, and we test the model predictions with detailed transaction-level data from the euro-area interbank market. We find that lender banks...
Persistent link: https://www.econbiz.de/10012301128
Cover Image
Bargaining power and outside options in the interbank lending market
Abbassi, Puriya; Bräuning, Falk; Schulze, Niels - 2017
We study the role of bargaining power and outside options for the pricing of over-the-counter interbank loans using a bilateral Nash bargaining model and test the model predictions with detailed transaction-level data from the euro-area interbank market. We find that lender banks with greater...
Persistent link: https://www.econbiz.de/10011740274
Cover Image
Stability issues in German money multiplier forecasts
Polster, Rainer; Gottschling, Andreas - 1999
This paper investigates the stability of the German money supply focusing on the period 1991 - 1998. It is shown that the standard ARIMA-Transfer model approach in the literature needs to be augmented by a cointegration term to adequately model the dynamics of money supply in Germany. Additional...
Persistent link: https://www.econbiz.de/10010301745