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Central bank communication in the financial crisis : evidence from a survey of financial market participants
Hayo, Bernd; Neuenkirch, Matthias - 2014 - This version: 9 January 2014
In this paper, we study whether central bank communication has a positive effect on market participants' perception of … that central bank communication has a positive effect on how central banks are perceived and understood, as it enhances …
Persistent link: https://www.econbiz.de/10010356195
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Central bank communication in the financial crisis : evidence from a survey of financial market participants
Hayo, Bernd; Neuenkirch, Matthias - 2014 - This version: 9 January 2014
In this paper, we study whether central bank communication has a positive effect on market participants’ perception of … that central bank communication has a positive effect on how central banks are perceived and understood, as it enhances …
Persistent link: https://www.econbiz.de/10010226327
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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
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Systemic Importance of Central Bank Communication : ECB Policy Announcements and Systemic Risk in the Eurozone
Möller, Rouven - 2020
This paper studies central bank communication of the ECB as a potential factor that explains the contribution to … able to use central bank communication to effectively steer private sector expectations in such a way that it has a robust … to be more sensitive towards the effects of central bank communication. More specifically, larger banks and highly …
Persistent link: https://www.econbiz.de/10012829038
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Fed QE and bank lending behaviour : a heterogeneity analysis of asset purchases
Grimaldi, Marianna; Kapoor, Supriya - 2023
Though unconventional monetary policy is still new, already there is a conventional wisdom that the impact of monetary policy is related to the composition of the asset mix. This turns out to be incomplete and potentially misleading. In this paper, we find more complex effects on bank lending...
Persistent link: https://www.econbiz.de/10014393221
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Systemic risk in a network model of interbank markets with central bank activity
Georg, Co-Pierre; Poschmann, Jenny - 2010
The breakdown of the interbank money markets in the face of the recent financial crisis has forced central banks and governments to take extraordinary measures to sustain financial stability. In this paper we investigate which influence central bank activity has on interbank markets. In our...
Persistent link: https://www.econbiz.de/10003971540
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Central Bank Information Shocks, Value Gains, and Value Crashes
Adra, Samer; Menassa, Elie - 2021
Monetary policy shocks that convey new macroeconomic information are significant predictors of both the absolute and risk-adjusted returns from value investing. Positive Fed information shocks lead to higher subsequent value returns. Crashes in the returns of value investing are most likely to...
Persistent link: https://www.econbiz.de/10013231644
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The failure of ECB monetary policy from a Mises-Hayek perspective
Schnabl, Gunther - 2017
combined with the theory of optimum currency areas. It shows how since the turn of the millennium a too expansionary monetary …
Persistent link: https://www.econbiz.de/10011619626
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Exchange rates and the information channel of monetary policy
Holtemöller, Oliver; Kriwoluzky, Alexander; Kwak, Boreum - 2020
We disentangle the effects of monetary policy announcements on real economic variables into an interest rate shock component and a central bank information shock component. We identify both components using changes in interest rate futures and in exchange rates around monetary policy...
Persistent link: https://www.econbiz.de/10012301353
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Central banks' voting records, financial crisis and future monetary policy
Horváth, Roman; Jonášová, Júlia - 2014
We examine whether central banks' voting records help predict the future course of monetary policy in the Czech republic, Hungary, Poland, Sweden and the United Kingdom, controlling for financial market expectations. Unlike previous research, first, we examine the period of the global financial...
Persistent link: https://www.econbiz.de/10010461227