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Inflation: thruway of ECB's monetary policy

Seidl, Christian - 2023

Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused by the Corona Pandemic, in particular lockdowns, part is caused by the Ukrainian War, part is caused by European sanctions, and part - and not the smallest one - is caused by...

Persistent link: https://www.econbiz.de/10013553631

Are Euro Interest Rates Led by Fed Announcements?

Monticini, Andrea; Vaciago, Giacomo - 2005

This paper investigates, for the first time, the reactions of markets to the monetary policy decisions of their own Central Bank and to the decisions of the Central Banks of other countries. In particular, using daily interest rates to estimate the impact of the monetary policy announcements of...

Persistent link: https://www.econbiz.de/10014070608

Crisis management at cross-roads : challenges facing cross-border financial institutions at the EU level : a joint publication with the Centre for European Policy Studies (CEPS)

Ayadi, Rym (ed.); Lierman, Frank (ed.); Balling, Morten (ed.) - Conference "Crisis Management at Cross-Roads" <2009, …; … - 2010

On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.

Persistent link: https://www.econbiz.de/10011706117

Announcements of ECB unconventional programs : implications for the sovereign risk of Italy

Falagiarda, Matteo; Reitz, Stefan - 2013

This paper studies the effects of ECB communications about unconventional monetary policy operations on the perceived sovereign risk of Italy over the last five years. More than fifty events concerning non-standard operations are identified and classified with respect to the specific ECB...

Persistent link: https://www.econbiz.de/10009783711

Rate forward guidance in an environment of large central bank balance sheets : a Eurosystem stock-taking assessment

2022

In the aftermath of the global financial crisis, central banks started being confronted with severe challenges that led to an unprecedented policy response in terms of the size and variety of monetary policy measures. One such measure centred on central banks communicating to the public more...

Persistent link: https://www.econbiz.de/10012886554

Estimating the monetary policy interest-rate-to-performance sensitivity of the European banking sector at the zero lower bound

Hayo, Bernd; Henseler, Kai; Rapp, Marc Steffen - 2019 - Version: 23-October-2018

Using an event-study design, we investigate monetary policy interest-rate-to-performance sensitivity of the European banking sector over the 07/2012-06/2017 period when interest rates were (close to) zero. We apply the Wordscores approach to introductory statements of ECB's Governing Council...

Persistent link: https://www.econbiz.de/10011959752

Spillover effects of unconventional monetary policy on capital markets in the shadow of the Eurozone: a sample of non-Eurozone countries

Mészáros, Mercédesz; Kiss, Gábor Dávid - In: Národohospodářský obzor : časopis věnovaný … 20 (2020) 2, pp. 171-195

determines the variables which are responsible for volatility: the activities of international financial institutions (like the …

Persistent link: https://www.econbiz.de/10012242342

ECB announcements and stock market volatility

Neugebauer, Frederik - 2019

This paper documents that ECB announcements increase the stock market volatility in the euro area (EA) on the same day …. I consider two volatility measures from January 1998 to May 2019. First, a realized volatility measure uses intraday … data for 8 different stock market indices. Second, a range measure approximates volatility using daily prices from 11 …

Persistent link: https://www.econbiz.de/10012286218

Global Financial Market Impact of the Announcement of the Ecb's Extended Asset Purchase Programme

Georgiadis, Georgios - 2017

We estimate the impact of the ECB's announcement of the extended asset purchase programme (EAPP) on 22 January 2015 on global equity prices, bond yields and the euro exchange rate. We find that the EAPP announcement benefited global financial markets by boosting equity prices in the euro area...

Persistent link: https://www.econbiz.de/10012971231

Interest rate expectations and uncertainty during ECB governing council days : evidence from intraday implied densities of 3-month Euribor

Vergote, Olivier; Puigvert Gutiérrez, Josep Maria - 2011

particular, the non-parametric estimator of these densities, which is based on fitting implied volatility curves, is applied to …

Persistent link: https://www.econbiz.de/10009380949

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