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In this paper, we argue that the ECB’s unconventional monetary policy announcements have generated significant spillover effects in Russia and Eastern Europe. The hypothesis is tested using OLS estimations of event-based regressions on monetary policy event dummies and seven financial...
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This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or...
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Transmission der Geldpolitik in diesen Staaten. Dies stellt die Theorie des Kreditkanals in den Vordergrund. In einem grundlegenden … finanzieren, lässt zudem die Frage nach einer deshalb verzögerten oder eingeschränkten Wirksamkeit der Geldpolitik aufkommen. Auch … Mutterbanken und den nationalen Tochterbanken birgt erhebliche Störpotenziale für eine liquiditätsentziehende nationale Geldpolitik …
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