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News shocks spillovers : how the euro area responds to expected Fed policy

Rudel, Paul; Tillmann, Peter - 2018

monetary policy news shock based on a VAR model. A monetary news shock is equivalent to new information about the Fed's future … monetary policy becoming available today. One example of a monetary news shock is a Forward Guidance announcement, where the … shocks. We estimate the response of the euro area to an expected future policy tightening of the Fed. The U.S. news shock …

Persistent link: https://www.econbiz.de/10011921241

Exchange rate and price dynamics in a small open economy : the role of the zero lower bound and monetary policy regimes

Bäurle, Gregor; Kaufmann, Daniel - 2014

level to a temporary risk premium shock are larger and more persistent when the ZLB is binding. Our theoretical discussion …

Persistent link: https://www.econbiz.de/10010495243

Essays in theoretical and empirical macroeconomics

Güntner, Jochen - 2012

Persistent link: https://www.econbiz.de/10009690508

The transmission of interest rates shocks to Asia : are effects different below the zero lower bound?

Feldkircher, Martin; Huber, Florian; Pornpinun … - 2017

on potential differences in the transmission of the monetary policy shock depending on the level of interest rates in the … country from where the shock originates, i.e., the euro area. A euro area monetary policy shock when euro area interest rates … are positive at the time the shock occurs tends to trigger positive spillovers to industrial production, house and stock …

Persistent link: https://www.econbiz.de/10011621228

Monetary policy, credit institutions and the bank lending channel in the euro area

Altavilla, Carlo; Andreeva, Desislava Č.; Boucinha, Miguel - 2019

As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks’ balance sheets can have very sizeable implications for the transmission of monetary policy. This paper provides an overview of developments in banks’ balance sheets,...

Persistent link: https://www.econbiz.de/10012009071

The interest rate pass-through in Eswatini

Kunene, Sive - In: Research bulletin 5 (2020/2021), pp. 106-117

Persistent link: https://www.econbiz.de/10012813554

Monetary policy disconnect

Ballensiefen, Benedikt; Ranaldo, Angelo; Winterberg, Hannah - 2020 - This version: December 11, 2020

Although designed to support monetary policy, two crucial aspects of the central bank framework can disconnect the monetary policy transmission: banks' access to central bank deposits and Quantitative Easing (QE). We show how both hinder the monetary policy transmission through the main...

Persistent link: https://www.econbiz.de/10012387237

Explaining ECB and Fed interest rate correlation : economic interdependence and optimal monetary policy

Mandler, Martin - 2010

This paper studies whether the observed high correlation between monetary policy in the U.S. and the Euro area can be explained by economic fundamentals, i.e. by macroeconomic interdependence between the two regions. We show that an optimal monetary policy reaction function for the ECB that...

Persistent link: https://www.econbiz.de/10008695549

New VAR evidence on monetary transmission channels: temporary interest rate versus inflation target shocks

Lukmanova, Elizaveta; Rabitsch, Katrin - 2018

Persistent link: https://www.econbiz.de/10012041111

New VAR evidence on monetary transmission channels : temporary interest rate versus inflation target shocks

Lukmanova, Elizaveta; Rabitsch, Katrin - 2018

Persistent link: https://www.econbiz.de/10011978448