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The monetary-structural origin of TARGET2 imbalances across Euroland
Rossi, Sergio - In: Modern monetary macroeconomics : a new paradigm for …, (pp. 221-238). 2012
Persistent link: https://www.econbiz.de/10009680860
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Determinants of TARGET2 Imbalances
Cecioni, Martina - 2012
The paper analyzes developments in TARGET2 imbalances within the euro area since 2007, from two perspectives: national central banks' balance sheets and countries' balance of payments (BoP). We examine the relationship between TARGET2 balances and the Eurosystem liquidity provision, analyzing...
Persistent link: https://www.econbiz.de/10013097950
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Capital Flows in the Euro Area and TARGET2 balances
Hristov, Nikolay - 2019
We estimate a panel VAR model for the euro area to quantitatively assess how the uneven recourse of national banking systems in the euro area to the ECB's unconventional refinancing operations that led to the accumulation of large TARGET2 balances, has contributed to the propagation of different...
Persistent link: https://www.econbiz.de/10012860823
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Capital Flows in the Euro Area and TARGET2 Balances
Hristov, Nikolay - 2018
We estimate a panel VAR model for the euro area to quantitatively asses the contribution of the TARGET2 system to the propagation of different types of structural economic shocks as well as to the historical evolution of aggregate economic activity in euro area member countries. Our results...
Persistent link: https://www.econbiz.de/10012922834
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A Treatise on the TARGET2 Imbalances & Stagnating Political Economy of Europe
Nasir, Muhammad Ali - 2018
Since the Global Financial Crisis, there have been two parallel issues faced by the Eurozone, Stagnation and TARGET2 … adjustment to the monetary base in the EMU. Specifically, it implies that the Eurozone members are granted a right to settle … keeping the bleak economic outlook of Eurozone in context, we analysed the implication of proposed mechanism at first tier …
Persistent link: https://www.econbiz.de/10012933366
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Capital flows in the euro area and TARGET2 balances
Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - In: Journal of banking & finance 113 (2020), pp. 1-30
Persistent link: https://www.econbiz.de/10012226091
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TARGET2 : how costly ist buying time
Erler, Alexander; Hohberger, Stefan - In: CESifo economic studies : CESifo, a joint initiative of … 62 (2016) 3, pp. 491-505
The article assesses the real costs and profits of German claims on the Eurosystem through TARGET2. While Germany’s nominal profits from holding TARGET2 claims depend on the development of the nominal interest rate, the real profits are determined by the real interest rate as well as the real...
Persistent link: https://www.econbiz.de/10011576585
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Capital flows, deleveraging & TARGET2
Kraus, Lena; Schiller, Jonathan - 2019
Persistent link: https://www.econbiz.de/10012115192
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Capital flows in the euro area and TARGET2 balances
Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2019
We estimate a panel VAR model for the euro area to quantitatively assess how the uneven recourse of national banking systems in the euro area to the ECB's unconventional refinancing operations that led to the accumulation of large TARGET2 balances, has contributed to the propagation of different...
Persistent link: https://www.econbiz.de/10012034705
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The implications of TARGET2 in the European balance of payment crisis and beyond
Cesaratto, Sergio - 2013
Persistent link: https://www.econbiz.de/10011856883