employ a radial DEA model to measure Eurosystem central banking efficiency. The Eurosystem monetary scheme offers interesting …Very few studies investigated central banking efficiency. Although Data Envelopment Analysis is widely used to measure … efficiency within the banking industry, it has surprisingly never been implemented in a central banking context. In our study, we …

that switching to a state-contingent monetary policy produces long-run gains in central bank surplus equal to 28.5% of …

facilitate an assessment of the effectiveness of monetary policy. There is clear evidence that the European Central Bank's money …

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank. …

College) gave the SUERF 2015 Annual Lecture on Capital and Banks. The conference focused on core aspects of banking reform …: the amount of capital required, the design of capital requirements (complexity versus simplicity), proportionate …

Central Bank's policy-rate cuts in mid-2014. The pass-through of the rate cuts to banks' funding costs differs across the euro … provide a simple model of an augmented bank balance-sheet channel where in addition to costly external financing, there is …

conditional profitability distributions. Real GDP growth and the NPL ratio are shown to be the most reliable determinants of bank …, a determined reduction in NPLs combined with cost efficiency improvements and customized changes to their business …