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The Impact of the Euro on Money and Bond Markets
Santillan Fraile, Javier; Bayle, Marc; Thygesen, Christian - 2021
The paper provides an analysis of the euro area money and bond markets and their infrastructure since the introduction … of the euro. Significant development in terms of integration took place in both markets in general to a various degree … but apply more generally to euro securities infrastructure, identifies fields where further action is required. This …
Persistent link: https://www.econbiz.de/10013318465
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The single monetary policy and domestic macro-fundamentals: Evidence from Spain
Arghyrou, Michael G.; Gadea, Maria Dolores - 2008
We model pre-euro Spanish monetary policy and use our findings to assess the compatibility of the interest rates set by … strategy tailored to its own domestic fundamentals; and by abolishing it to join the euro she has paid a cost in the form of a …
Persistent link: https://www.econbiz.de/10010288789
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The single monetary policy and domestic macro-fundamentals : evidence from Spain
Arghyrou, Michael Georgiou (contributor);  … - 2008
We model pre-euro Spanish monetary policy and use our findings to assess the compatibility of the interest rates set by … strategy tailored to its own domestic fundamentals; and by abolishing it to join the euro she has paid a cost in the form of a …
Persistent link: https://www.econbiz.de/10003766104
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An Inquiry into Banking Portfolios and Financial Stability Surrounding ‘The Great Recession’
Garita, Gus - 2010
By utilizing the extreme dependence structure and the conditional probability of joint failure (CPJF) between banks, this paper characterizes a risk-stability index (RSI) that quantifies (i) common distress of banks, (ii) distress between specific banks, and (iii) distress to a portfolio related...
Persistent link: https://www.econbiz.de/10013136927
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Impact of SNB decision to unpeg the franc from euro on financial markets : event study approach
Oanea, Dumitru-Cristian; Jakova, Stela - In: Acta Universitatis Danubius / Oeconomica 12 (2016) 2, pp. 208-218
Persistent link: https://www.econbiz.de/10011633518
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Exchange rates and fundamentals
Engel, Charles; West, Kenneth David - 2003
Standard economic models hold that exchange rates are influenced by fundamental variables such as relative money supplies, outputs, inflation rates and interest rates. Nonetheless, it has been well documented that such variables little help predict changes in floating exchange rates u0097 that...
Persistent link: https://www.econbiz.de/10009635953
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Is Implied Taylor Rule Interest Rate Applicable as a Carry Trade Strategy?
Ogruk-Maz, Gokcen - 2017
This paper evaluates the performance of carry trade strategies with implied Taylor rule interest rate differentials and compares the performance statistics of them over the naive carry trade strategy with actual interest rates. Carry trade, a currency speculation strategy, between high-interest...
Persistent link: https://www.econbiz.de/10012944234
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Monetary Policy and Exchange Rate Returns : Time-Varying Risk Regimes
Calomiris, Charles W. - 2020
We develop an empirical model of exchange rate returns, applied separately to samples of developed (DM) and developing (EM) economies' currencies against the dollar. Monetary policy stance of the global central banks, measured via a natural-language-based approach, has a large effect on exchange...
Persistent link: https://www.econbiz.de/10012850036
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Heterogeneous macro and financial effects of ECB asset purchase programs
Zwan, Terri van der; Kole, Erik; Wel, Michel van der - 2021
Central banks resorted to asset purchase programs to replace conventional policy measures, which became ineffective after interest rates approached the zero lower bound. We investigate their effects on financial markets and focus on heterogeneous transmission using a Bayesian structural vector...
Persistent link: https://www.econbiz.de/10012795397
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Spillovers from U.S. Unconventional Monetary Policy and its Normalization to Emerging Markets : A Capital Flow Perspective
Suh, Sangwon - 2016
Policy makers employed unconventional monetary policy (UMP) tools to respond to the recent global financial crisis in the U.S. and other advanced economies, and the UMP is about to be normalized. In this paper, we try to quantitiatively assess the effects of the UMP and its normalization on...
Persistent link: https://www.econbiz.de/10012996355