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Exit strategies and their impact on the Euro area : a model based view
Belke, Ansgar - 2014
Dieser Beitrag untersucht die Argumente für und gegen einen Ausstieg aus der expansiven Geldpolitik. Der Fokus liegt … dabei auf der Betrachtung der Effekte eines Ausstiegs der amerikanischen Notenbank Fed auf die Eurozone. Dies erscheint … geldpolitischen Ausstiegs der Fed auf die Eurozone auf Basis eines IWF-Modells dar. Abschließend werden die Optionen der Geldpolitk …
Persistent link: https://www.econbiz.de/10010227698
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Exit strategies and their impact on the Euro area : a model based view
Belke, Ansgar - 2014
This paper comments on the pros and cons of exit strategies. The focus is on the impact on the Euro area economy of the exit from unconventional monetary policies (UMP) by the Fed, which, appears to be the first central bank to lay out an exiting path. In this context, it discusses the issue of...
Persistent link: https://www.econbiz.de/10010371341
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ECB collateral criteria : a narrative database 2001 - 2013
Eberl, Jakob; Weber, Christopher - 2014
This paper offers an encompassing analysis of the ECB's collateral criteria between 2001 and 2013. A comprehensive database of changes to collateral criteria is compiled and structured by asset classes. The main findings can be summarized in three stylized facts: (1) Since the outbreak of the...
Persistent link: https://www.econbiz.de/10010248841
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The Global Financial Crisis’ Impact on the Eurozone : So Far, A Lost Decade
Gechev, Vasil - 2020
– Japan, Brazil, USA, Eurozone, Russia, China – have managed to overcome the consequences completely. However, the degree to … which the GFC's impact has been neutralized varies considerably, and the comparison between the eurozone and the two other … unemployment – by the fourth quarter of 2018 the unemployment rate in the eurozone was more that 3 times higher than Japan's rate …
Persistent link: https://www.econbiz.de/10012850191
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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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The euro interbank repo market
Mancini, Loriano; Ranaldo, Angelo; Wrampelmeyer, Jan - 2014 - This version: March 2014
The search for a market design that ensures stable bank funding is at the top of regulators' policy agenda. This paper empirically shows that the central counterparty (CCP)-based euro interbank repo market features this stability. Using a unique and comprehensive data set, we show that the...
Persistent link: https://www.econbiz.de/10010410308
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Cross-border liquidity, relationships and monetary policy : evidence from the Euro area interbank crisis
Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - 2014 - This version: November 2014
We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...
Persistent link: https://www.econbiz.de/10010471858
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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723
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Causes of the outbreak of the Eurozone crisis : the role of the USA and the European Central Bank monetary policy
Białek, Natalia - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 2, pp. 47-63
This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the US Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008 - 09. Unusually low interest rates in 2001 -...
Persistent link: https://www.econbiz.de/10011402491
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"Whatever it takes" to resolve the European sovereign debt crisis? : bond pricing regime switches and monetary policy effects
Afonso, António; Arghyrou, Michael Georgiou; Gadea, … - 2017
This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...
Persistent link: https://www.econbiz.de/10011735972