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Real effects of financial market integration : evidence from an ECB collateral framework change
Hüttl, Pia; Kaldorf, Matthias - 2022
This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank …
Persistent link: https://www.econbiz.de/10013279271
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Real effects of financial market integration : evidence from an ECB collateral framework change
Hüttl, Pia; Kaldorf, Matthias - 2022
This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank …
Persistent link: https://www.econbiz.de/10013336407
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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 financial accelerator in the euro area : new evidence using a mixture VAR model
Bennani, Hamza; Burgard, Jan Pablo; Neuenkirch, Matthias - 2021 - This Version: July 22, 2021
We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over the period 2003Q1-2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy transmission can be described as mixture of two states (e.g.,...
Persistent link: https://www.econbiz.de/10012320523
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The financial accelerator in the euro area : new evidence using a mixture VAR model
Bennani, Hamza; Neuenkirch, Matthias - 2020
We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over the period 2003Q1–2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy transmission can be described as mixture of two states...
Persistent link: https://www.econbiz.de/10012383710
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The financial accelerator in the euro area : new evidence using a mixture VAR model
Bennani, Hamza; Burgard, Jan Pablo; Neuenkirch, Matthias - 2021 - First draft: November 23, 2020 ; this version: May 17, 2021
We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over the period 2003Q1-2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy transmission can be described as mixture of two states (e.g.,...
Persistent link: https://www.econbiz.de/10013328355
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Nonbank lenders as global shock absorbers : evidence from US Monetary Policy spillovers
Elliott, David; Meisenzahl, Ralf R.; Peydró, José-Luis - 2023
do not drive these results. Furthermore, the substitution from bank to nonbank credit has firm-level real effects …
Persistent link: https://www.econbiz.de/10014335622
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Monetary Policy Transmission and the Impact on Financial Markets, Inflation and the Real Economy
Van Holle, Frederiek - 2019
research suggests that the central bank is not armless in such an environment. Unconventional monetary policy has been adopted …
Persistent link: https://www.econbiz.de/10012864709
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Financial development and monetary policy transmission in a multiple-tool regime : the case of Vietnamese commercial banks
Thanh Phuc Nguyen; Dinh Thi Thu Hong; Tran Ngoc Tho - In: Cogent business & management 9 (2022) 1, pp. 1-41
The research aims to test the impact of financial development on the bank lending channel of monetary policy … banks covering the period of 2007-2020, findings show that the financial development weakens the bank lending channel of … these banks from the monetary policy shocks. Furthermore, the influence of the financial market on the response of the bank …
Persistent link: https://www.econbiz.de/10014442729
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Real effects of financial market integration : evidence from an ECB collateral framework change
Hüttl, Pia; Kaldorf, Matthias - 2022 - Revised version: 6. February 2023
Does central bank collateral policy contribute to financial market integration? We address this question by exploiting … that, in 2007, the European Central Bank replaced national collateral frameworks by a single list. Under the single list … regime, euro area banks could pledge all euro area bank loans as collateral, not only domestic loans as before the framework …
Persistent link: https://www.econbiz.de/10013549091