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Interest rate pass-through in the EMU – new evidence using the nonlinear ARDL framework
Verheyen, Florian - In: Economics Bulletin 33 (2013) 1, pp. 729-739
This investigation puts the interest rate pass-through mechanism from policy to deposit rates in the EMU under closer … according to our results. Based on fully harmonized data for three EMU countries and the EMU as a whole we disentangle short …-run and long-run asymmetries as well as heterogeneity in the interest rate pass-through mechanism across EMU. Our results …
Persistent link: https://www.econbiz.de/10010629840
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How to restore sustainability of the Euro?
Alho, Kari E. O. - 2011
) by specifying an open-economy version of a two-region New Keynesian model for EMU and demonstrate that the result by … EMU and sustainability in the case, prevailing currently, where a high debt country should both restore its …
Persistent link: https://www.econbiz.de/10010326893
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Heterogeneous effects of unconventional monetary policy on bond yields across the euro area
Demir, Ishak; Eroglu, Burak A.; Yildirim-Karaman, Secil - 2021
This paper investigates the impact of the European Central Bank's unconventional monetary policies (UMP) between 2008-2019 on the European government bond yields. It adopts a novel econometric approach that combines a data-rich factor analysis and VAR with heteroskadasiticy based identification....
Persistent link: https://www.econbiz.de/10012494700
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Heterogeneous effects of unconventional monetary policyon the bond yields across the euro area
Demir, İshak; Eroğlu, Burak Alparslan; … - 2021
This paper investigates the impact of the European Central Bank's unconventionalmonetary policies (UMP) between 2008-2019 on the European government bond yields.It adopts a novel econometric approach that combines a data-rich factor analysis andVAR with heteroskadasiticy based identification....
Persistent link: https://www.econbiz.de/10012496467
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How to restore sustainability of the euro?
Alho, Kari E.O. - In: Revue de l'OFCE N° 127 (2013) 1, pp. 303-340
We specify an open-economy version of a two-region New Keynesian model for EMU and demonstrate that the result on the …
Persistent link: https://www.econbiz.de/10011020572
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How to Restore Sustainability of the Euro?
Alho, Kari E.O. - Elinkeinoelämän Tutkimuslaitos (ETLA) - 2011
) by specifying an open-economy version of a two-region New Keynesian model for EMU and demonstrate that the result by … EMU and sustainability in the case, prevailing currently, where a high debt country should both restore its …
Persistent link: https://www.econbiz.de/10009322551
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The Effect of Monetary Unification on German Bond Markets
Dewachter, Hans; Lyrio, Marco; Maes, Konstantijn - Centrum voor Economische Studiën, Faculteit Economie … - 2001
This paper uses reprojection to develop a benchmark to assess ECB monetary policy since January 1999, the start of EMU … German monetary policy is then reprojected onto the EMU period (1999:01-2001:08). We find that the German real interest rate … in place during the EMU period is significantly lower than it would have been in case the Bundesbank were still in charge …
Persistent link: https://www.econbiz.de/10005824097
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The Effect of Monetary Unification on German Bond Markets
Dewachter, Hans; Lyrio, Marco; Maes, Konstantijn - Centrum voor Economische Studiën, Faculteit Economie … - 2002
This paper uses reprojection to develop a benchmark to assess ECB monetary policy since January 1999, the start of EMU … German monetary policy is then reprojected onto the EMU period (1999:01-2001:08). We find that the German real interest rate … in place during the EMU period is significantly lower than it would have been in case the Bundesbank were still in charge …
Persistent link: https://www.econbiz.de/10005808053
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Bank Lending Rate Pass-Through and Differences in the Transmission of a Single EMU Monetary Policy.
Donnay, Marie; Degryse, Hans - Centrum voor Economische Studiën, Faculteit Economie … - 2001
The pass-through from the money market rate to several bank lending rates and the government bond rate is investigated for 12 European countries over the period 1980-2000, by applying a SVAR based on the Cholesky decomposition. Simulations of a one percent point rise in the money market rate,...
Persistent link: https://www.econbiz.de/10005808062
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The Effect of Monetary Unification on German Bond Markets
Dewachter, Hans; Lyrio, Marco; Maes, Konstantijn - Centrum voor Economische Studiën, Faculteit Economie … - 2001
This paper uses reprojection to develop a benchmark to assess ECB monetary policy since January 1999, the start of EMU … German monetary policy is then reprojected onto the EMU period (1999:01-2001:08). We find that the German real interest rate … in place during the EMU period is significantly lower than it would have been in case the Bundesbank were still in charge …
Persistent link: https://www.econbiz.de/10005587989