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Monetary Policy Transmission in Poland: A Study of the Importance of Interest Rate and Credit Channels

Łyziak, Tomasz; Przystupa, Jan; Wróbel, Ewa - 2008

The importance of credit in the monetary transmission mechanism has recently attained a lot of attention due to a growing understanding that credit market imperfections can have an impact on the monetary policy effectiveness. In this study, using Vector Error Correction Models (VECMs) and...

Persistent link: https://www.econbiz.de/10011689932

Implications of Globalization for Monetary Policy

Wagner, Helmut - 2002

This paper argues that the implications of globalization for monetary policy come mainly through two channels: On the one hand, the many structural changes, which are associated with the globalization process, cause an increase in uncertainty surrounding monetary policy. This leads to an...

Persistent link: https://www.econbiz.de/10011689901

The household cash-flow effects of monetary policy in Denmark and the euro area

Bovin, Andreas; Jørgensen, Mia Herløv; Kuchler, Andreas; … - 2024

Since 2022 the European Central Bank and Danmarks Nationalbank have increased their key monetary policy rates at a record pace. This study shows that the pass-through to retail rates has been stronger in Denmark than in the euro area so far. Interest rate fixation periods are shorter in Denmark,...

Persistent link: https://www.econbiz.de/10014551617

Is it time for rate hikes? The Fed cannot engineer a soft landing but risks stagflation by trying

Nersisyan, Yeva; Wray, L. Randall - 2022

Roughly two years into the economic recovery from the COVID-19 crisis, the topic of elevated inflation dominates the economic policy discourse in the United States. And the aggressive use of fiscal policy to support demand and incomes has commonly been singled out as the culprit. Equally as...

Persistent link: https://www.econbiz.de/10014480509

Monetary policy, credit institutions and the bank lending channel in the euro area

Altavilla, Carlo; C. Andreeva, Desislava; Boucinha, Miguel - 2019

As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks' balance sheets can have very sizeable implications for the transmission of monetary policy. This paper provides an overview of developments in banks' balance sheets, profitability...

Persistent link: https://www.econbiz.de/10012141418

Shadow banking in the Euro area: an overview

Bakk-Simon, Klára; Borgioli, Stefano; Giron, Celestino; … - 2012

Shadow banking, as one of the main sources of financial stability concerns, is the subject of much international debate. In broad terms, shadow banking refers to activities related to credit intermediation and liquidity and maturity transformation that take place outside the regulated banking...

Persistent link: https://www.econbiz.de/10011606285

Unterschiede im Transmissionsweg geldpolitischer Impulse: Eine Analyse für wichtige Exportländer Baden-Württembergs in der Europäischen Währungsunion

Buscher, Herbert S.; Stirböck, Claudia; Tykvová, Tereza; … - 2000

Persistent link: https://www.econbiz.de/10010300928

Inflation persistence and price-setting behaviour in the euro area – a summary of the IPN evidence

Altissimo, Filippo; Ehrmann, Michael; Smets, Frank - 2006

This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings are - i) Under the current monetary policy regime, the...

Persistent link: https://www.econbiz.de/10011606198

Structural features of distributive trades and their impact on prices in the euro area

2011

The distributive trades sector, which is primarily accounted for by wholesale and retail trade, is not only economically important in its own right, but also relevant to monetary policy. Ultimately, it is retailers who set the actual prices of most consumer goods. They are the main interface...

Persistent link: https://www.econbiz.de/10011606280

Warum die Volkswirtschaften der Eurozone den USA und Großbritannien seit der Finanzkrise hinterherhinken: Zur Rolle von Unterschieden in der Geld- und Fiskalpolitik

Heimberger, Philipp - 2016

Wirtschaftsräume wird in zwei Dimensionen analysiert; zum einen anhand eines Überblicks zur Geldpolitik der EZB nach dem Ausbruch der … Wachstum und Beschäftigung, was die Eurozonenwirtschaft im Zusammenspiel mit der über weite Strecken zögerlichen Geldpolitik … prozyklische, krisenverstärkende Fiskalpolitik befördert. Die EZB ist mit ihrer seit Anfang 2015 betriebenen Geldpolitik des …

Persistent link: https://www.econbiz.de/10012100198

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