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they are quite right. The ECB has indeed become more dependent in political and financial terms. The ECB has decided to … overall money supply unaffected. This is to counter accusations that the ECB is monetizing government debt. This note … reshuffles only the liability side of the ECB's balance sheet. It is not well-suited to either diminish the bloated ECB balance …
Persistent link: https://www.econbiz.de/10009261344
We examine how unconventional monetary policy of the European Central Bank influences macroeconomic stability in Central and Eastern European economies. We estimate various panel vector autoregressions using monthly data from 2008-2014. Using the shadow policy rate and central bank assets as...
Persistent link: https://www.econbiz.de/10011375694
decision rule of the ECB, we rank different rules according to their ability to aggregate the national counterfactual paths to … economically worse than the Euro Area average perform best. -- monetary policy ; ECB ; Bundesbank ; decision rule ; counterfactual …
Persistent link: https://www.econbiz.de/10009724004
The ECB decision to cut its benchmark interest rate in November 2013 has been severely criticised in Germany. Against … this background, the President of the Bundesbank justified the ECB's monetary policy stance in recent speeches. At the same …
Persistent link: https://www.econbiz.de/10010228435
information search patterns, of German citizens on trust in the ECB. We rely on a unique representative public opinion survey of …, about the ECB foster citizens' trust. Specific knowledge about the ECB is more influential than general monetary policy …, especially newspaper reading, has a significantly negative influence on trust. We conclude that the only viable way for the ECB …
Persistent link: https://www.econbiz.de/10010196544
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10009786077
implemented by the ECB since summer 2013 mirrors the rate recommendations of a simple policy rule or deviates from it in a way …
Persistent link: https://www.econbiz.de/10011436446
countries. An alternative solution to ensure the European perspective of decision-making in the ECB Council is to match economic …
Persistent link: https://www.econbiz.de/10011511101
incorporates key elements that have already been adopted in the European Union. The case of ELA provision by the ECB and the …
Persistent link: https://www.econbiz.de/10010417257
We analyse German citizens' knowledge about monetary policy and the European Central Bank (ECB), as well as the public …'s use of mass communication media to obtain information about the ECB. We employ a unique representative public opinion … survey of German households conducted in 2011. We find that a person's desire to be informed about the ECB, together with the …
Persistent link: https://www.econbiz.de/10010508550