Narrow search
Showing 1 - 10 of 44,342
Cover Image
Monetary transmission right from the start: The (dis)connection netween the money market and the ECB's main refinancing rates
Abbassi, Puriya; Nautz, Dieter - 2010
The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO auctions. Our results confirm a stabilizing level...
Persistent link: https://www.econbiz.de/10010300713
Cover Image
Monetary transmission right from the start: The (dis)connection between the money market and the ECB's main refinancing rates
Abbassi, Puriya; Nautz, Dieter - 2010
The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO auctions. Our results confirm a stabilizing level...
Persistent link: https://www.econbiz.de/10010270729
Cover Image
Bidder Behavior in Repo Auctions without Minimum Bid Rate: Evidence from the Bundesbank
Nautz, Dieter; Linzert, Tobias; Breitung, Jörg - 2003
banks refrain from bidding, severely impeding the ECB's money market management. To shed more light on banks' underbidding …
Persistent link: https://www.econbiz.de/10010295761
Cover Image
Declining valuations and equilibrium bidding in central bank refinancing operations
Ewerhart, Christian; Cassola, Nuno; Valla, Natacha - 2006
It is argued that bidders in liquidity-providing central bank operations should typically possess declining marginal valuations. Based on this hypothesis, we construct an equilibrium in central bank refinancing operations organised as variable rate tenders. In the case of the discriminatory...
Persistent link: https://www.econbiz.de/10011604714
Cover Image
Bidding behaviour in the ECB’s main refinancing operations during the financial crisis
Eisenschmidt, Jens; Hirsch, Astrid; Linzert, Tobias - 2009
) to address the recent tensions in financial markets since summer 2007. In this paper, we analyse banks’ bidding behaviour … unique data set comprising repo auctions from March 2004 to October 2008 with bidding data from 877 counterparties. We find …, the increased attractiveness of the ECB’s tender operations due to its collateral framework and banks’ bidding more …
Persistent link: https://www.econbiz.de/10011605098
Cover Image
Bidding behaviour in the ECB's main refinancing operations during the financial crisis
Eisenschmidt, Jens; Hirsch, Astrid; Linzert, Tobias - 2009
) to address the recent tensions in financial markets since summer 2007. In this paper, we analyse banks' bidding behaviour … unique data set comprising repo auctions from March 2004 to October 2008 with bidding data from 877 counterparties. We find …, the increased attractiveness of the ECB's tender operations due to its collateral framework and banks' bidding more …
Persistent link: https://www.econbiz.de/10003866003
Cover Image
Monetary transmission right from the start : the (dis)connection between the money market and the ECB’s main refinancing rates
Abbassi, Puriya; Nautz, Dieter - 2010
The relation between the ECB’s main refinancing (MRO) rates and the money market is key for the monetary transmission process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO auctions. Our results confirm a stabilizing level...
Persistent link: https://www.econbiz.de/10003953030
Cover Image
Monetary transmission right from the start : the (dis)connection netween the money market and the ECB’s main refinancing rates
Abbassi, Puriya; Nautz, Dieter - 2010
The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO auctions. Our results confirm a stabilizing level...
Persistent link: https://www.econbiz.de/10003962841
Cover Image
Monetary transmission right from the start : on the information content of the eurosystem’s main refinancing operations
Abbassi, Puriya; Nautz, Dieter - 2011
The Eurosystem’s main refinancing operations (MRO) are key for the interbank money market and the monetary transmission process in the euro area. This paper investigates how money market rates respond to the information revealed by various aspects of an MRO auction outcome. Our results confirm...
Persistent link: https://www.econbiz.de/10009373439
Cover Image
Bidder behavior in repo auctions without minimum bid rate : evidence from the Bundesbank
Linzert, Tobias; Nautz, Dieter; Breitung, Jörg - 2003
banks refrain from bidding, severely impeding the ECB's money market management. To shed more light on banks' underbidding …
Persistent link: https://www.econbiz.de/10011432155