Showing 81 - 90 of 4,100
How do capital and liquidity buffers affect the evolution of bank loans in periods of financial and economic distress … capital and liquidity buffers show a more muted response in their lending to adverse real economy shocks. Capital and … liquidity buffers also affect bank responses to monetary policy shocks. High bank capitalisation reduces the degree to which …
Persistent link: https://www.econbiz.de/10011771997
We analyse the impact of the Liquidity Coverage Ratio (LCR) on the demand for central bank reserves in the euro area … crisis and the associated introduction of new liquidity regulation. …
Persistent link: https://www.econbiz.de/10012420275
excess reserves, implying a structural liquidity surplus in the euro area banking sector. Against this background, the first … part of this paper analyses the Eurosystem's liquidity management during normal times, crisis times and times of too low in … banks operate under a structural liquidity surplus. The model shows that increasing excess reserves have no or even a …
Persistent link: https://www.econbiz.de/10012099037
Persistent link: https://www.econbiz.de/10012597835
The excess liquidity in the euro area is a product of a long period of quantitative easing. It changed the operational … system (ARS). To eliminate excess liquidity and return to the SRS, the ECB must intensify quantitative tightening, which is …
Persistent link: https://www.econbiz.de/10014491928
transactional level allows me to apply advanced panel methods. Furthermore, this paper shows liquidity hoarding during the pandemic …
Persistent link: https://www.econbiz.de/10014481123
Persistent link: https://www.econbiz.de/10010495732
This paper analyzes the effects of time-varying fiscal policy behavior on output and consumption multipliers within a monetary union. The framework is that of a standard New Keynesian twocountry model with distortionary taxes and Calvo price rigidities. I first show that multipliers differ...
Persistent link: https://www.econbiz.de/10012887782
Fiscal policy is widely criticized for its failure to act as a stabilizing countercyclical force in the European Monetary Union. Two periods should be distinguished: Prior to the Financial Crisis of 2008, when monetary policy had traction to pursue stability for the aggregate eurozone, fiscal...
Persistent link: https://www.econbiz.de/10010401689
In light of persistent in ation dispersion and rising debt levels in the EMU, this paper investigates the welfare implications of budget-neutral scal policies that counteract in ation di erentials. In a two-country DSGE model of a monetary union with traded and non-traded goods a national scal...
Persistent link: https://www.econbiz.de/10011437921