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Monetary policy and bank equity values in a time of low interest rates
Ampudia, Miguel; Heuvel, Skander van den - 2018
This paper examines the effects of monetary policy on the equity values of European banks. We identify monetary policy shocks by looking at changes in the EONIA one-month and two-year swap contract rates during narrow windows around the press statements and press conferences announcing monetary...
Persistent link: https://www.econbiz.de/10011928956
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Crisis management at cross-roads : challenges facing cross-border financial institutions at the EU level : a joint publication with the Centre for European Policy Studies (CEPS)
Ayadi, Rym (ed.); Lierman, Frank (ed.); Balling, Morten (ed.) - Conference "Crisis Management at Cross-Roads" <2009, …; … - 2010
On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.
Persistent link: https://www.econbiz.de/10011706117
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Estimating the monetary policy interest-rate-to-performance sensitivity of the European banking sector at the zero lower bound
Hayo, Bernd; Henseler, Kai; Rapp, Marc Steffen - 2019 - Version: 23-October-2018
Using an event-study design, we investigate monetary policy interest-rate-to-performance sensitivity of the European banking sector over the 07/2012-06/2017 period when interest rates were (close to) zero. We apply the Wordscores approach to introductory statements of ECB's Governing Council...
Persistent link: https://www.econbiz.de/10011959752
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The ECB's price stability framework : past experience, and current and future challenges
2021
"automatic stabilisers" and work alongside the central bank. …
Persistent link: https://www.econbiz.de/10012627164
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ECB communication as a stabilization and coordination device: evidence from ex-ante inflation uncertainty
Fernandes, Cecilia Melo - 2021
uncertainty and sheds light on how central bank information shocks operate. The paper finds that ECB communication of new outlook … bank information acts as a "coordination device" able to influence opinions and actions. Most importantly, it generates a … unconditional aggregate mean. The results of this paper not only help to explain the impact of new central bank information, but …
Persistent link: https://www.econbiz.de/10012603073
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Excess liquidity in the euro area : sources and remedies
Dąbrowski, Marek - 2023
framework of the European Central Bank (ECB)’s monetary policy from the scarce reserves system (SRS) to the abundant reserves …
Persistent link: https://www.econbiz.de/10014491928
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Do large TARGET2 balances bear risks for the euro area?
Horst, Maximilian; Neyer, Ulrike - In: Credit and capital markets : Kredit und Kapital 55 (2022) 1, pp. 3-34
Large increases in TARGET2 balances in the euro area since 2008 have led to concern and debate about the appropriate interpretation and policy reaction - in particular in TARGET2 creditor countries such as Germany. Against this background, we examine the main drivers of the increases and...
Persistent link: https://www.econbiz.de/10014518497
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Monetary policy strategies to navigate post-pandemic inflation : an assessment using the ECB's New Area-Wide Model
Darracq Pariès, Matthieu; Kornprobst, Antoine; … - 2024
We evaluate how the euro area economy would have performed since mid-2021 under alternative monetary policy strategies. We use the ECB's workhorse estimated DSGE model and contrast actual policy conduct against alternative strategies which differ in their "lower-for-longer" commitment as well as...
Persistent link: https://www.econbiz.de/10014527121
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Causes of the outbreak of the Eurozone crisis : the role of the USA and the European Central Bank monetary policy
Białek, Natalia - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 2, pp. 47-63
Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of … tend not to take into account the policies of the European Central Bank. …
Persistent link: https://www.econbiz.de/10011402491
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Towards a robust monetary policy rule for the euro area
Blattner, Tobias S.; Margaritov, Emil - 2010
to which indicators the central bank is assumed to respond to, ignoring the data-rich environment in which policy …
Persistent link: https://www.econbiz.de/10003973570