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A new wave of technological innovations, often called 'fintech,' is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper sets out an economic framework for thinking through the channels by which fintech...
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I study the transmission of monetary policy to deposit rates in the euro area with a focus on asymmetries and the role of banking sector concentration. Using a local projections framework with 2003-2023 country-level and bank-level data for thirteen euro area member states, I find that deposit...
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the ECB since 1999 with Spanish macrofundamentals. We find that in the 1990s Spain implemented successfully a monetary … sub-optimal monetary policy. Spain's experience suggests a cautious approach with regards to the timing of further EMU … enlargement. -- Spain ; ECB ; monetary policy ; domestic fundamentals ; compatibility …
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