Showing 1 - 10 of 13,026
We identify a novel dimension of monetary policy from high-frequency changes in asset prices around ECB policy events, orthogonal to surprises extracted from risk-free interest rates. We find that it is present in policy events that were interpreted by real-time market commentaries as containing...
Persistent link: https://www.econbiz.de/10012818740
macroeconometric literature, the paper i) uses a newly-assembled monthly data set of the interwar world economy, and ii) models … monetary disturbances as shocks to central bank gold demand. Based on a monetary DSGE model, the world gold reserve ratio (the … of narrative information to sharpen shock identification in a structural VAR analysis based on sign restrictions …
Persistent link: https://www.econbiz.de/10012405992
Persistent link: https://www.econbiz.de/10012521015
We analyse the behaviour of the Norwegian unsecured overnight interbank market in response to heightened uncertainty and the central bank's liquidity support measures following the Covid-19 pandemic. The liquidity measures enabled banks to fulfil their liquidity needs primarily through...
Persistent link: https://www.econbiz.de/10014314135
Persistent link: https://www.econbiz.de/10013354986
Persistent link: https://www.econbiz.de/10008907407
investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether … there is increasing uncertainty for central banks due to globalization-driven changes in the national economic structure. A … FAVAR framework is applied to derive structural shocks on a worldwide level and their impact on other global and also …
Persistent link: https://www.econbiz.de/10013155344
fighting inflation and promoting monetary integration and financial stability in its member states, the COVID-19 pandemic …
Persistent link: https://www.econbiz.de/10012798293
Persistent link: https://www.econbiz.de/10014280771
Persistent link: https://www.econbiz.de/10013253088