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Negative interest rates, COVID-19, and the finances of listed euro firms
Eije, Johan H. von - In: Central European review of economics and management : CEREM 5 (2021) 4, pp. 117-143
Aim: The paper measures the impact of negative interest rates on listed firms in the original euro zone countries. It also measures the impact of the first COVID-19 year. Design / research methods: The paper uses panel data to measure the influence of the short-term ECB deposit rate and the...
Persistent link: https://www.econbiz.de/10013202353
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Towards a Joint Characterization of Monetary Policy and the Dynamics of the Term Structure of Interest Rates
Fendel, Ralf - 2016
Persistent link: https://www.econbiz.de/10012991346
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Nicht zu früh bremsen! : der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA
Schettkat, Ronald; Sun, Rongrong - 2009
Neutralität von Geldpolitik wurde diese bei der Suche nach den Ursachen europäischer Arbeitslosigkeit verschont. Tatsächlich … Arbeitsmarktinstitutionen. Wir argumentieren, dass das Zusammenwirken negativer Schocks und einer restriktiven Geldpolitik die wesentliche –wenn … Europa war. Die Bundesbank –Europas „Zentralbank“ vor Etablierung der EZB- hat eine asymmetrische Geldpolitik in dem Sinne …
Persistent link: https://www.econbiz.de/10003836155
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Monetary policy and European unemployment
Schettkat, Ronald; Sun, Rongrong - 2008
In the long history of rising and persistent unemployment in Europe almost all institutions – employment protection legislation, unions, wages, wage structure, unemployment insurance, etc. – have been alleged and found guilty to have caused this tragic development at some point in time....
Persistent link: https://www.econbiz.de/10003836935
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US-euro area monetary policy interdependence : new evidence from Taylor Rule based VECMs
Belke, Ansgar (contributor); Cui, Yuhua (contributor) - 2009
This paper analyses the monetary policy interdependence between the European Central Bank (ECB) and the Federal Reserve (Fed) for the period 1999-2006. Two models are specified: a partial Vector Error Correction Model (VECM) and a general VECM. In the partial VECM, we look for a long-run...
Persistent link: https://www.econbiz.de/10003811795
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Monetary policy in the liquidity trap and after : a reassessment of quantitative easing and critique of the Federal Reserve's proposed exit strategy
Palley, Thomas I. - 2013
first segment examines the theory of the liquidity trap and introduces a distinction between a "weak" and "strong" liquidity …
Persistent link: https://www.econbiz.de/10009756555
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Which News Moves the Euro Area Bond Market?
Sebestyén, Szabolcs - 2011
This paper explores a long dataset (1999–2005) of intraday prices on German long-term bond futures and examines market responses to major macroeconomic announcements and ECB monetary policy releases. German bond markets tend to react more strongly to the surprise component in US macro releases...
Persistent link: https://www.econbiz.de/10013123675
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Money-Based Interest Rate Rules : Lessons from German Data
Gerberding, Christina - 2016
The paper derives the monetary policy reaction function implied by money growth targeting. It consists of an interest rate response to deviations of the inflation rate from target, to the change in the output gap, to money demand shocks and to the lagged interest rate. In the second part, it is...
Persistent link: https://www.econbiz.de/10012991152
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How the Bundesbank Really Conducted Monetary Policy : An Analysis Based on Real-Time Data
Gerberding, Christina - 2016
Persistent link: https://www.econbiz.de/10012991301
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The Price of Liquidity : Bank Characteristics and Market Conditions
Fecht, Falko - 2010
We identify frictions in the market for liquidity as well as bank-specific and market-wide factors that affect the prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the overnight index swap. We have price data at the...
Persistent link: https://www.econbiz.de/10013144896