Similar Search Results

The Global Financial Crisis’ Impact on the Eurozone : So Far, A Lost Decade

Gechev, Vasil - 2020

– Japan, Brazil, USA, Eurozone, Russia, China – have managed to overcome the consequences completely. However, the degree to … which the GFC's impact has been neutralized varies considerably, and the comparison between the eurozone and the two other … unemployment – by the fourth quarter of 2018 the unemployment rate in the eurozone was more that 3 times higher than Japan's rate …

Persistent link: https://www.econbiz.de/10012850191

Twenty years of the German euro are more than enough

Bibow, Jörg - 2018

This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...

Persistent link: https://www.econbiz.de/10011894027

Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus

Hristov, Nikolay - 2020

We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy shocks,...

Persistent link: https://www.econbiz.de/10012836323

Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus

Hristov, Nikolay - 2020

Persistent link: https://www.econbiz.de/10012838235

Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus

Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020

We explore the effects of the ECB’s unconventional monetary policy on the banks’ sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy...

Persistent link: https://www.econbiz.de/10012194625

Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus

Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020

Persistent link: https://www.econbiz.de/10012197879

Banks and negative interest rates

Heider, Florian; Saidi, Farzad; Schepens, Glenn - 2021

In this paper, we survey the nascent literature on the transmission of negative policy rates. We discuss the theory of how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the growing evidence that negative policy rates are...

Persistent link: https://www.econbiz.de/10012518247

Impact of higher capital buffers on banks' lending and risk-taking : evidence from the Euro Area experiments

Cappelletti, Giuseppe; Marques, Aurea Ponte; Varraso, Paolo - 2019

We study the impact of higher bank capital buffers, namely of the Other Systemically Important Institu- tions (O-SII) buffer, on banks' lending and risk-taking behaviour. The O-SII buffer is a macroprudential policy aiming to increase banks' resilience. However, higher capital requirements...

Persistent link: https://www.econbiz.de/10012024808

ECB Monetary Policy Transmission During Normal and Negative Interest Rate Periods

Bräuning, Falk - 2017

We analyze monetary policy transmission in the euro area from 2009--2016, including changes during the negative interest rate policy (NIRP) period as of June 2014. We identify three dimensions of ECB monetary policy related to surprise changes in (i) the target rate, (ii) the expected future...

Persistent link: https://www.econbiz.de/10012960297

Mixing QE and interest rate policies at the effective lower bound : micro evidence from the euro area

Bittner, Christian; Rodnyansky, Alexander; Saidi, Farzad; … - 2024

We study the interaction of expansionary rate-based monetary policy and quantitative easing, despite their concurrent implementation, by exploiting heterogeneous banks and the introduction of negative monetary-policy rates in a fragmented euro area. Quantitative easing increases credit supply...

Persistent link: https://www.econbiz.de/10014520834