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Forecasting euro area inflation using targeted predictors : is money coming back?
Falagiarda, Matteo; Sousa, João - 2017
This paper sheds new light on the information content of monetary and credit aggregates for future price developments in the euro area. Overall, we find strong variation in the information content of these variables over time. We show that monetary and credit aggregates are very often selected...
Persistent link: https://www.econbiz.de/10011637074
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CBDC and cash in the euro area : crowding out or co-circulation?
Rösl, Gerhard; Seitz, Franz - 2022
-paid scheme combining central elements of TARGET Instant Payment Settlement and electronic money features enabling offline and … online instant payments. The issuance of a digital euro would be neutral to total money supply as banks act only as …
Persistent link: https://www.econbiz.de/10013399889
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Central bank digital currency and cash in the euro area : current developments and one specific proposal
Rösl, Gerhard; Seitz, Franz - In: Credit and capital markets : Kredit und Kapital 55 (2022) 4, pp. 523-551
-paid scheme combining central elements of TARGET Instant Payment Settlement and electronic money features enabling offline and …
Persistent link: https://www.econbiz.de/10014518599
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Heterogeneity in money holdings across euro area countries : the role of housing
Setzer, Ralph; Noord, Paul Joseph van den; Wolff, Guntram B. - 2010
inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution … effects on real money holdings. Empirically, we show that cross-country differences in real balances are determined not only … by income differences, a standard determinant of money demand, but also by house price developments. Higher house prices …
Persistent link: https://www.econbiz.de/10010208778
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Heterogeneity in money holdings across euro area countries: The role of housing
Setzer, Ralph; van den Noord, Paul; Wolff, Guntram B. - In: European Journal of Political Economy 27 (2011) 4, pp. 764-780
inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution … effects on real money holdings. Empirically, we show that cross-country differences in real balances are determined not only … by income differences, a standard determinant of money demand, but also by house price developments. Higher house prices …
Persistent link: https://www.econbiz.de/10010574387
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Monetary Policy Transmission to Mortgages in a Negative Interest Rate Environment
Amzallag, Adrien - 2019
Do negative policy rates hinder banks' transmission of monetary policy? To answer this question, we examine the behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher ratios of retail overnight deposits to total assets charge...
Persistent link: https://www.econbiz.de/10012892476
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Monetary Policy Transmission to Mortgages in a Negative Interest Rate Environment
Amzallag, Adrien - 2018
Do negative policy rates hinder banks' transmission of monetary policy? To answer this question, we examine the behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher ratios of retail overnight deposits to total assets charge...
Persistent link: https://www.econbiz.de/10012928343
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Monetary policy transmission to mortgages in a negative interest rate environment
Amzallag, Adrien; Calza, Alessandro; Georgarakos, Dimitris - 2019
Do negative policy rates hinder banks' transmission of monetary policy? To answer this question, we examine the behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher ratios of retail overnight deposits to total assets charge...
Persistent link: https://www.econbiz.de/10011975610
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Financial factors in economic fluctuations
Christiano, Lawrence J.; Motto, Roberto; Rostagno, Massimo - 2010
We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...
Persistent link: https://www.econbiz.de/10003973320
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The Transmission Mechanism of Credit Support Policies in the Euro Area
Boeckx, Jef - 2017
We use an original monthly dataset of 131 individual euro area banks to examine the effectiveness and transmission mechanism of the Eurosystem's credit support policies since the start of the crisis. First, we show that these policies have indeed been succesful in stimulating the credit flow of...
Persistent link: https://www.econbiz.de/10012955416