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This paper investigates the credit channel in Germany and the United Kingdom. The financial systems of these two … competition among credit intermediaries, resulting in a declining dependence on banks in Germany. …
Persistent link: https://www.econbiz.de/10010504307
We study the yields in the German treasury bills market. We take a detailed look at the yield banks require to buy treasury bills in the primary market, and we also examine the yield households and nonbank firms demand to buy these bills in the secondary market. We use data from real world...
Persistent link: https://www.econbiz.de/10011449639
Persistent link: https://www.econbiz.de/10012805812
The Covid-19 pandemic hitting the world in 2020 also caused a high death toll in Germany and in the European Monetary …-scale fiscal stimuli, and public guarantees, in Germany and the EMU smoothed the disastrous economic and social effects of the … pandemic. Overall, the stabilisation policy during the Covid-19 pandemic in Germany was successful and prevented escalating …
Persistent link: https://www.econbiz.de/10013269485
The empirical literature on central banking has found measures of central bank independence/conservatism to be negatively correlated with inflation and inflation variance across countries. But the cross-country approach has been criticised for its focus on policy outcomes instead of policies,...
Persistent link: https://www.econbiz.de/10009781685
Persistent link: https://www.econbiz.de/10012321781
estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of …
Persistent link: https://www.econbiz.de/10012291889
Persistent link: https://www.econbiz.de/10012300130
We study the role of bargaining power and outside options with respect to the pricing of over-the-counter interbank loans using a bilateral Nash bargaining model, and we test the model predictions with detailed transaction-level data from the euro-area interbank market. We find that lender banks...
Persistent link: https://www.econbiz.de/10012301128
This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...
Persistent link: https://www.econbiz.de/10012251959