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The Geography of the Great Rebalancing in Euro Area Bond Markets During the Sovereign Debt Crisis
Beck, Roland - 2015
During the sovereign debt crisis investors rebalanced out of stressed and into non-stressed euro area countries, thereby contributing to the tensions in euro area financial markets. This paper examines the geographical pattern of this great rebalancing. Specifically, we test whether euro area...
Persistent link: https://www.econbiz.de/10013016950
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International transmission of interest rates : the role of international reserves and sovereign debt
Afonso, António; Huart, Florence; Jalles, João Tovar; … - 2021
We analyse the international transmission of interest rates by focusing on the role of the accumulation of international reserves and on the financing of sovereign debt. An increase in foreign exchange reserves is expected to moderate the influence of U.S. interest rates. However, a high level...
Persistent link: https://www.econbiz.de/10012504452
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Rules, Discretion or Reputation? Monetary Policies and the Efficiency of Financial Markets in Germany, 14th to 16th Centuries
Volckart, Oliver - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007
This paper examines the questions of whether and how feudal rulers were able tocredibly commit to preserving monetary stability, and of which consequences theirdecisions had for the efficiency of financial markets. The study reveals that princes were usually only able to commit to issuing a...
Persistent link: https://www.econbiz.de/10005861191
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Rules, discretion or reputation? : monetary policies and the efficiency of financial markets in Germany, 14th to 16th centuries
Volckart, Oliver (contributor) - 2007
This paper examines the questions of whether and how feudal rulers were able to credibly commit to preserving monetary stability, and of which consequences their decisions had for the efficiency of financial markets. The study reveals that princes were usually only able to commit to issuing a...
Persistent link: https://www.econbiz.de/10003422944
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Rules, discretion or reputation? Monetary policies and the efficiency of financial markets in Germany, 14th to 16th centuries
Volckart, Oliver - 2007
This paper examines the questions of whether and how feudal rulers were able to credibly commit to preserving monetary stability, and of which consequences their decisions had for the efficiency of financial markets. The study reveals that princes were usually only able to commit to issuing a...
Persistent link: https://www.econbiz.de/10010263676
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Floating a "lifeboat" : the Banque de France and the crisis of 1889
White, Eugene N.; Hautcoeur, Pierre-Cyrille; Riva, Angelo - 2014
When faced with a run on a "systemically important" but insolvent bank in 1889, the Banque de France pre …
Persistent link: https://www.econbiz.de/10010361484
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The Price of Stability. The Balance Sheet Policy of the Banque De France and the Gold Standard (1880-1914)
Bazot, Guillaume - 2014
Under the classical gold standard (1880-1914), the Bank of France maintained a stable discount rate while the Bank of …, differ so much? How did the Bank of France manage to keep a stable rate and continuously violate the “rules of the game …”? This paper tackles these questions and shows that the domestic asset portfolio of the Bank of France played a crucial role …
Persistent link: https://www.econbiz.de/10013045945
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Early French and German central bank charters and regulations
Bindseil, Ulrich - 2019
regulations of six pre 1800 central banks in France and Germany. The six early public banks displayed varying levels of success …
Persistent link: https://www.econbiz.de/10012110108
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Banks and Governments : An Arial View
Gelpern, Anna - 2013
Financial systems and public treasuries are communicating vessels: strength or weakness in one flows to the other, and back. This chapter considers the implications of this insight using case studies from Europe, Asia, and Latin America. The connection is not unique to Europe, although it does...
Persistent link: https://www.econbiz.de/10013074254
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Monetary Policy Implications and Eurozone's Long Term Interest Rate Spreads
Bratis, Theodore D. - 2015
We research the association of the sovereign crisis stemming from periphery EMU countries and monetary policy in terms of financial stability. Empirical results are derived on the linkage of monetary policy reflected through interbank lending rates i.e. banking sector fragility to long term...
Persistent link: https://www.econbiz.de/10013022903