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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
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
This paper presents estimates of short and medium frequency cycles for eight key economic and financial variables of the Greek economy and explores their characteristics. Five alternative techniques are used: turning point analysis; bandpass filters; the Hodrick-Prescott filter; univariate...
Persistent link: https://www.econbiz.de/10014079914
This paper aims to contribute to our understanding of the dynamics driving the Greek term structure of nominal interest rates and to explore their possible macroeconomic determinants. A canonical, Vasicek-type latent a¢ ne factor model of the Greek term structure is estimated on data spanning...
Persistent link: https://www.econbiz.de/10014080537
economic performance for the case of Greece over the period 1986-1999. Greece is a medium sized EU country where the financial …-directional causality between finance and growth in the long run. The findings, using error-correction models, show that both bank and stock … of stock market finance to economic growth appears to be substantially smaller compared to bank finance …
Persistent link: https://www.econbiz.de/10013404658
We construct a Financial Conditions Index (FCI) for Greece as a surveillance tool to quantify the degree of the stress … (EA) as a whole and show that although the developments in the EA were qualitatively in line with those in Greece, they … were quantitatively much milder. Our results confirm that monetary transmission was less effective in Greece compared to …
Persistent link: https://www.econbiz.de/10013012447
Different approaches to accounting involve different, often implicit, assumptions as to the functioning of the monetary and financial system. In particular, fair value accounting, unlike historical cost accounting, relies on the assumption of asset (and liability) market liquidity, and may...
Persistent link: https://www.econbiz.de/10013104006
Persistent link: https://www.econbiz.de/10003822314
Persistent link: https://www.econbiz.de/10011725159
Persistent link: https://www.econbiz.de/10012800775