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Are contemporary central banks transparent about economic models and objectives and what difference does it make?

Cukierman, Alex - 2001

inflation targets of Western central banks are currently quite clear they tend to be hazy about their output targets and about … whether they are strictor flexible inflation targeters (in Svensson's (1997) sense), and in the second case, how flexible … the paper first reviews the case for believing that at least some central banks are, given inflation, more averse to …

Persistent link: https://www.econbiz.de/10011419304

Interbank lending and monetary policy transmission : evidence for Germany

Ehrmann, Michael; Worms, Andreas - 2001

This paper presents empirical evidence on the behaviour of interbank lending in Germany after a monetary policy impulse. Our VAR analysis shows that following a monetary contraction, the banking system as a whole attracts additional funds from foreign banks. Whereas small cooperative and savings...

Persistent link: https://www.econbiz.de/10011419387

Monetary policy effects on bank loans in Germany : a panel-econometric analysis

Worms, Andreas - 2001

A crucial condition for the existence of a credit channel through bank loans is that monetary policy should be able to change bank loan supply. This paper contributes to the discussion on this issue by presenting empirical evidence from dynamic panel estimations based on a dataset that comprises...

Persistent link: https://www.econbiz.de/10011419446

Financial systems and the role of banks in monetary policy transmission in the euro area

Ehrmann, Michael; Gambacorta, Leonardo; Martínez … - 2001

ergibt, dass die Geldpolitik das Bankkreditangebot beeinflußt, wobei die Stärke dieses Effekts über Banken in Abhängigkeit …

Persistent link: https://www.econbiz.de/10011419463

Monetary policy and the asset risk-taking channel

Abbate, Angela; Thaler, Dominik - 2015

more inflation volatility in exchange for less volatility in risk taking and output. …

Persistent link: https://www.econbiz.de/10011419626

The usage, costs and benefits of cash - revisited : International Cash Conference 2014

2014 - Stand: Dezember 2014

Persistent link: https://www.econbiz.de/10011378830

Sovereign money : beyond reserve banking

Huber, Joseph - 2017

Persistent link: https://www.econbiz.de/10011517301

Cross-border transmission of emergency liquidity

Kick, Thomas; Koetter, Michael; Storz, Manuela - 2016

We show that emergency liquidity provision by the Federal Reserve transmitted to non-U.S. banking markets. Based on manually collected holding company structures of international banks, we can identify banks in Germany with access to U.S. facilities via internal capital markets. Using...

Persistent link: https://www.econbiz.de/10011538689

Time-varying volatility, financial intermediation and monetary policy

Eickmeier, Sandra; Metiu, Norbert; Prieto, Esteban - 2016

We document that expansionary monetary policy shocks are less effective at stimulating output and investment in periods of high volatility compared to periods of low volatility, using a regime-switching vector autoregression. The lower effectiveness of monetary policy can be linked to weaker...

Persistent link: https://www.econbiz.de/10011564503

Enterprises' financing structure and their response to monetary policy stimuli : an analysis based on the Deutsche Bundesbank's corporate balance sheet statistics

Stöss, Elmar - 1996

The traditional monetary policy transmission mechanism is based on the fact that, in the wake of a restrictive monetary policy stance, the interest rate rises and that therefore interest-rate-related variables, such as corporate asset formation, dec1ine or increase less sharply than at the given...

Persistent link: https://www.econbiz.de/10010469550