Narrow search
Showing 1 - 10 of 710
Cover Image
Effectiveness and transmission of the ECB's balance sheet policies
Boeckx, Jef; Bossche, Maarten; Peersman, Gert - 2014
We estimate the effects of exogenous innovations to the balance sheet of the ECB since the start of the financial crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial markets, and has a positive impact on economic activity...
Persistent link: https://www.econbiz.de/10010383862
Cover Image
Measuring financial cycles in a model-based analysis : empirical evidence for the United States and the euro area
Galati, Gabriele; Hindrayanto, Irma; Koopman, Siem Jan; … - 2016
largest euro area countries over the period 1970 to 2014. We find that credit, the credit-to-GDP ratio and house prices have …
Persistent link: https://www.econbiz.de/10011456728
Cover Image
Does interbank market matter for business cycle fluctuation? : an estimated DSGE model with financial frictions for the Euro area
Giri, Federico - 2014
downturn and especially the rise of the interest rates on the credit market during and just after the financial turmoil. …
Persistent link: https://www.econbiz.de/10010463477
Cover Image
Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area
Peersman, Gert - 2011
interest rate innovation, that is additional bank loans are generated by a greater credit multiplier. In contrast, the …
Persistent link: https://www.econbiz.de/10013119125
Cover Image
Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area
Peersman, Gert - 2013
-run liquidity effect after an interest rate innovation, that is additional bank loans are generated by a greater credit multiplier …
Persistent link: https://www.econbiz.de/10013092365
Cover Image
Measuring Financial Cycles with a Model-Based Filter : Empirical Evidence for the United States and the Euro Area
Galati, Gabriele - 2016
The financial cycle captures systematic patterns in the financial system and is closely related to the concept of procyclicality of systemic risk. This paper investigates the characteristics of financial cycles using a multivariate model-based filter. We extract cycles using an unobserved...
Persistent link: https://www.econbiz.de/10013000400
Cover Image
Effectiveness and Transmission of the ECB's Balance Sheet Policies
Boeckx, Jef - 2014
We estimate the effects of exogenous innovations to the balance sheet of the ECB since the start of the financial crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial markets, and has a positive impact on economic activity...
Persistent link: https://www.econbiz.de/10013048831
Cover Image
Does Interbank Market Matter for Business Cycle Fluctuation? An Estimated DSGE Model with Financial Frictions for the Euro Area
Giri, Federico - 2014
borrowers on the interbank market and they provide credit to the real economy. The surplus bank are net lender and they could … shock seems to explain part of the 2007 downturn and the rise of the interest rate on the credit market just after the …
Persistent link: https://www.econbiz.de/10013053227
Cover Image
Measuring Financial Cycles in a Model-Based Analysis : Empirical Evidence for the United States and the Euro Area
Galati, Gabriele - 2016
largest euro area countries over the period 1970 to 2014. We find that credit, the credit-to-GDP ratio and house prices have …
Persistent link: https://www.econbiz.de/10012994016
Cover Image
Unconventional monetary policy effects on bank lending in the euro area
Behrendt, Stefan - 2017
. Using a variable for newly issued credit instead of the outstanding stock of credit, the effects on bank lending are smaller …
Persistent link: https://www.econbiz.de/10011602464