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The conduct of monetary policy in the future : instrument use

Inaba, Kei-Ichiro; O'Farrell, Rory; Rawdanowicz, Łukasz; … - 2015

The set of monetary policy instruments has expanded since the start of the global financial crisis in the many OECD economies. Against this background, this paper analyses whether some of the new instruments should be retained in the long term when broader financial stability objectives are...

Persistent link: https://www.econbiz.de/10011392833

Negative interest rates in the euro area : does it hurt banks?

Strasky, Jan; Hwang, Hyunjeong - 2019

The negative interest rate policy (NIRP) has been in place in the euro area since June 2014. While the NIRP can provide additional monetary accommodation in the situation where the neutral rate of interest is most likely negative, there are also unintended consequences for banks’ profitability...

Persistent link: https://www.econbiz.de/10012111120

The fall in real long-term government bond yields : disentangling different drivers

Rawdanowicz, Łukasz; Hammouch, Mohamed; Kasai, Makoto - 2017

This paper contributes to the empirical literature investigating reasons for the fall in real interest rates in advanced economies. It focuses on selected drivers from three broad categories: demographic changes; imbalances between supply of and demand for safe assets; and monetary policy at...

Persistent link: https://www.econbiz.de/10011700540

The Bitcoin question : currency versus trust-less transfer technology

Blundell-Wignall, Adrian - 2014

The financial crisis has led to a widespread loss of trust in financial intermediaries of all kinds, perhaps helping to open the way towards the general acceptance of alternative technologies. This paper briefly summarises the crypto-currency phenomenon, separating the ‘currency’ issues from...

Persistent link: https://www.econbiz.de/10010375852

Virtual currencies in the Eurosystem : challenges ahead : monetary dialogue July 2018 : study requested by the ECON Committee

Lastra, Rosa M.; Allen, Jason Grant - Europäisches Parlament / Policy Department for … - 2018

Persistent link: https://www.econbiz.de/10011920764

Blockchain for SMEs and entrepreneurs in Israel

Bianchini, Marco; Kwon, Insung - 2020

This report investigates the development of the Blockchain ecosystem in Israel, against the background of the SME and … introducing blockchain-based services in the Israeli market, opportunities and challenges to their business development, sectors …

Persistent link: https://www.econbiz.de/10012202774

The potential for blockchain technology in corporate governance

Yasui, Takahiro - 2019

Beyond bitcoin, blockchain technology has acquired attention and importance in its own right. Today, it is conceptually … accepted that blockchain stands out as a disruptive technology that will change a number of processes in financial services and … could in turn impact corporate governance. This paper explores the recent applications of blockchain technology in financial …

Persistent link: https://www.econbiz.de/10012137047

Blockchain now and tomorrow : assessing multidimensional impacts of distributed ledger technologies

Europäische Kommission / Gemeinsame Forschungsstelle - 2019 - Manuscript completed in July 2019

Persistent link: https://www.econbiz.de/10012107425

Cryptocurrencies and blockchain : legal context and implications for financial crime, money laundering and tax evasion : study requested by the TAX3 committee

Houben, Robby; Snyers, Alexander - Europäisches Parlament / Policy Department for … - 2018

Persistent link: https://www.econbiz.de/10011922024

Unconventional monetary policy and productivity : evidence on the risk-seeking channel from us corporate bond markets

Albrizio, Silvia; Conesa, Marina; Dlugosch, Dennis; … - 2019

We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US between 2008 and 2016. Using monetary policy surprises, obtained from changes in interest rates futures in narrow windows around FOMC announcements, we isolate the increased...

Persistent link: https://www.econbiz.de/10011975741

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