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Employment and performance effects of circular economy innovations
Horbach, Jens; Rammer, Christian - 2019
Circular economy (CE) describes an economic concept that aims at saving resources by minimizing the use of material and energy over the entire life-cycle or products, including repair, reuse and recycling. CE innovations help to realize the goals of a sustainable development and target both the...
Persistent link: https://www.econbiz.de/10011999582
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Measuring and testing for the systemically important financial institutions
Castro Iragorri, Carlos Alberto; Ferrari, Stijn - 2012
This paper analyses Delta CoVaR proposed by Adrian and Brunnermeier (2008) as a tool for identifying/ranking systemically important institutions and assessing interconnectedness. We develop a test of significance of Delta CoVaR that allows determining whether or not a financial institution can...
Persistent link: https://www.econbiz.de/10011590621
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The effects of social distancing measures on COVID-19 spreads in European countries
Pažický, Martin - In: Národohospodářský obzor : časopis věnovaný … 23 (2023) 2, pp. 105-158
This study investigates the effects of social distancing measures on various types of social mobility, using country- and day-fixed effects on a panel of daily data comprising 29 European countries. Although social distancing measures proved to be significant for all types of mobility in the...
Persistent link: https://www.econbiz.de/10014320267
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Bidding behaviour in the ECB's main refinancing operations during the financial crisis
Eisenschmidt, Jens; Hirsch, Astrid; Linzert, Tobias - 2009
Liquidity provision through its repo auctions has been one of the main instruments of the European Central Bank (ECB … unique data set comprising repo auctions from March 2004 to October 2008 with bidding data from 877 counterparties. We find …. -- Central Bank Auctions ; Financial Market Turmoil ; Panel Sample Selection Model ; Bidding Behavior ; Monetary Policy …
Persistent link: https://www.econbiz.de/10003866003
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Why the effective price for money exceeds the policy rate in the ECB tenders?
Välimäki, Tuomas - 2008
The tender spread, i.e. the difference between the effective price for money in the ECB's main refinancing operations and the prevailing policy rate, is one of the main determinants behind the evolution of the EONIA with respect to the ECB's operational target. This study assesses the reasons...
Persistent link: https://www.econbiz.de/10003826027
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The repo auctions of the European Central Bank and the vanishing quota puzzle
Oechssler, Joerg; Nautz, Dieter - 2001 - Revised version
Weekly repo auctions are the European Central Bank's most important policy instrument. Provided that banks bid … seriously, these auctions should determine the liquidity of the banking sector in an efficient and transparent way. However …
Persistent link: https://www.econbiz.de/10011538717
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Declining Valuations and Equilibrium Bidding Central Bank Refinancing Operations
Ewerhart, Christian - 2010
It is argued that bidders in liquidity-providing central bank operations should typically possess declining marginal valuations. Based on this hypothesis, we construct equilibrium in central bank refinancing operations organised as variable rate tenders. In the case of the discriminatory pricing...
Persistent link: https://www.econbiz.de/10013136639
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Structural Econometric Approach to Bidding in the Main Refinancing Operations of the Eurosystem
Morana, Claudio - 2013
This paper contributes to the existing literature on central bank repo auctions. It is based on a structural … on ECB auctions by showing that it may be related to an identification problem. Overall the results suggest that …
Persistent link: https://www.econbiz.de/10012754119
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Structural Econometric Approach to Bidding in the Main Refinancing Operations of the Eurosystem
Ewerhart, Christian; Cassola, Nuno; Morana, Claudio - 2021
This paper contributes to the existing literature on central bank repo auctions. It is based on a structural …
Persistent link: https://www.econbiz.de/10013316900
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Coordinating Cross-Border Congestion Management Through Auctions : An Experimental Approach to European Solutions
Jullien, Céline; Robin, Stéphane; Pignon, Virginie; … - 2011
Competition among producers within an integrated electricity system is impeded by any limited transmission capacity there may be at its borders. Two alternative market mechanisms have recently been designed to organize the allocation of scarce transmission capacity at cross-border level: the...
Persistent link: https://www.econbiz.de/10014176643