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Unconventional monetary policy effects on bank lending in the euro area
Behrendt, Stefan - 2017
This paper employs a structural VAR framework with sign restrictions to estimate the effects of unconventional monetary policies of the European Central Bank since the Global Financial Crisis, mainly in their effectiveness towards bank lending. Using a variable for newly issued credit instead of...
Persistent link: https://www.econbiz.de/10011602464
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Looking into the rear-view mirror : lessons from Japan for the Eurozone and the U.S?
Siklos, Pierre L. - In: Asia and the global economy : AGE 1 (2021) 1, pp. 1-20
experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking …
Persistent link: https://www.econbiz.de/10012816140
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Central banking below zero : the implementation of negative interest rate policies in Europe and Japan
Angrick, Stefan; Nemoto, Naoko - 2017
This paper provides an overview of the operational implementation of negative interest rates in Europe and Japan. Drawing attention to the fact that there is precedent for negative policy rates and negative money market rates, the paper addresses conceptual issues and summarizes measures which...
Persistent link: https://www.econbiz.de/10011650059
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Monetary policy and macroeconomic factors : Japan versus the US and the euro area
Siklos, Pierre L. - In: Asia and the global economy : AGE 3 (2023) 2, pp. 1-8
Narratives that portray macroeconomic policies in Japan as unlike ones pursued in other large economies persist. I revisit how several factors, including monetary, fiscal, and demographic factors impact Japan, the US, and the euro area. Panel VARs driven by factors or observed macroeconomic...
Persistent link: https://www.econbiz.de/10014447638
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Inflation Dynamics and International Linkages : A Model of the United States, the Euro Area and Japan
Coenen, Günter; Wieland, Volker - 2021
In this paper we estimate a small macroeconometric model of the United States, the euro area and Japan with rational expectations and nominal rigidities due to staggered contracts. Comparing three popular contracting specifications we find that euro area and Japanese inflation dynamics are best...
Persistent link: https://www.econbiz.de/10013320199
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Central Bank accountability and transparency : theory and some evidence
Eijffinger, Sylvester C. W.; Hoeberichts, Marco M. - 2000
The first part of this paper outlines the concept of democratic accountability of central banks, and compares the legal accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve System). In the second part, we present a theory...
Persistent link: https://www.econbiz.de/10001537904
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Central bank accountability and transparency : theory and some evidence
Eijffinger, Sylvester C. W.; Hoeberichts, Marco - 2000
The first part of this paper outlines the concept of democratic accountability of central banks, and compares the legal accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve System). In the second part, we present a theory...
Persistent link: https://www.econbiz.de/10011418852
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Divergent monetary policies and international dollar credit : evidence from bank-level data
He, Dong; Wong, Eric; Ho, Kelvin; Tsang, Andrew - 2017
This paper uses a comprehensive and detailed bank-level data set to study how the divergence of central bank balance sheet policy in the US vis-à-vis the euro area and Japan affects the supply of international US dollar loans by global banks. Our empirical findings support the view that the...
Persistent link: https://www.econbiz.de/10011650136
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Do central banks react to house prices?
Finocchiaro, Daria (contributor);  … - 2007
policy ; DSGE models ; Bayesian estimation …
Persistent link: https://www.econbiz.de/10003591098
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Gold as an inflation hedge in a time-varying coefficient framework
Beckmann, Joscha; Czudaj, Robert - 2012
bietet aus einem neuen Blickwinkel. Basierend auf Daten für die USA, Großbritannien, die Eurozone und Japan unterscheiden wir …. Using data for four major economies, namely the USA, the UK, the Euro Area, and Japan, we allow for nonlinearity and … USA and the UK compared to Japan and the Euro Area. In addition, the adjustment of the general price level is …
Persistent link: https://www.econbiz.de/10009580064