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. The straightforward solution for the ECB would be to sell the once purchased bonds, as they are the source of the extra … debt certificates by the ECB as an alternative way of absorbing liquidity. …
Persistent link: https://www.econbiz.de/10012663221
This paper shows that a different communication style of the European Central Bank (ECB) affects stock prices … differently. A break in the ECB's communication from 2016 onwards makes it necessary to adjust the identification of monetary …
Persistent link: https://www.econbiz.de/10012803259
the European Central Bank (ECB) have evolved in these three countries since their introduction at the turn of the century … in Sweden. Since the start of the crisis, trust in the ECB was strongly influenced by the pronounced increase in … unemployment in the euro area, demonstrating that the ECB was held accountable for macroeconomic developments. Our results indicate …
Persistent link: https://www.econbiz.de/10012269193
performance of different Member States that threatens the viability of the EMU. The ECB has the authority and tools to address …The ongoing policy strategy review presents a unique opportunity for the ECB to examine how to best employ its immense …
Persistent link: https://www.econbiz.de/10012502029
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
Persistent link: https://www.econbiz.de/10014289779
We assess the macroeconomic impact of pandemic-related monetary policy measures of the ECB. Conditioning on …
Persistent link: https://www.econbiz.de/10012622376
interest rates have hit their effective lower bounds (ELB). In case of the European Central Bank (ECB), this should have … increased the informational content of the introductory statements at the press conference following ECB policy meetings. We … examine whether this form of ECB communication adds information to a shadow interest rate that summarises the overall policy …
Persistent link: https://www.econbiz.de/10012105109
In this paper, we analyze the relationship between certain characteristics of incumbent central bank governors and their interest-rate-setting behavior. We focus on (i) occupational backgrounds, (ii) party affiliation, and (iii) experience in office and estimate augmented Taylor rules for 20...
Persistent link: https://www.econbiz.de/10009775039
In the past few years, the Federal Open Market Committee (FOMC) has been using forward guidance about the federal funds rate in a more explicit way than ever before. This paper explores the market reaction to the forward guidance, with particular focus on the use of calendar dates and economic...
Persistent link: https://www.econbiz.de/10010202644