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The Power of Collateral : The ECB and Bank Funding Strategies in Crisis
Gabor, Daniela - 2012
The paper engages with an important aspect of the European crisis, the European banks' reliance on collateralized (repo) market funding, that has received relatively little analytical attention in the scholarship on the European financial and sovereign debt crisis. The paper is guided by three...
Persistent link: https://www.econbiz.de/10013106366
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Lending Booms in the New EU Member States : Will Euro Adoption Matter?
Brzoza-Brzezina, Michal - 2021
, Hungary and Poland) during the process of euro adoption. Experiences of some old members (Greece, Ireland and Portugal) and … the econometric evidence speak in favour of strong loan increases in Hungary and Poland even though their magnitude may be …
Persistent link: https://www.econbiz.de/10013318196
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Az euró hazai bevezetésének újragondolása
Neményi, Judit; Obláth, Gábor - 2012
The study aims to revisit some of the macroeconomic issues related to Hungary's eurozone-accession. The government …, focusing at the implications for Hungary's euro-adoption. The main conclusion of the analysis is that, irrespective of when … Hungary actually intends to join the eurozone, it is in the country's best interest to fulfil the requirements necessary for …
Persistent link: https://www.econbiz.de/10009521086
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Are Eastern European taylor reaction functions asymmetric in inflation or output : empirical evidence for four countries
Klose, Jens - 2018
countries Czech Republic, Hungary, Poland and Romania. We do so taking explicitly inflation rates below or above target and …
Persistent link: https://www.econbiz.de/10011803795
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Managing Euro Risk
Reynolds, Barney; Blake, David P.; Lyddon, Bob - 2020
Many people can now see that the EU project has lost touch with the normal arrangements that govern successful western economies. But less obvious is that the EU’s financial system and its legal underpinnings are weak. As this analysis shows, EU law sidesteps the Basel standards – the...
Persistent link: https://www.econbiz.de/10014096367
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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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The transmission mechanism of credit support policies in the Euro Area
Boeckx, Jef; Sola Perea, Maite de; Peersman, Gert - 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/10011646726
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Banks and negative interest rates
Heider, Florian; Saidi, Farzad; Schepens, Glenn - 2021
In this paper, we survey the nascent literature on the transmission of negative policy rates. We discuss the theory of how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the growing evidence that negative policy rates are...
Persistent link: https://www.econbiz.de/10012518247
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The transmission mechanism of credit support policies in the Euro Area
Boeckx, Jef; Sola Perea, Maite de; Peersman, Gert - 2016
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 successful in stimulating the credit flow of...
Persistent link: https://www.econbiz.de/10011634998
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The augmented bank balance-sheet channel of monetary policy
Bittner, Christian; Bonfim, Diana; Heider, Florian; … - 2022
This paper studies how banks' balance sheets and funding costs interact in the transmission of monetary-policy rates to banks' credit supply to firms. To do so, we use creditregistry data from Germany and Portugal together with the European Central Bank's policy-rate cuts in mid-2014. The...
Persistent link: https://www.econbiz.de/10013163037