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The fragility of two monetary regimes : the European Monetary System and the eurozone
De Grauwe, Paul; Ji, Yuemei - 2013
Persistent link: https://www.econbiz.de/10010243556
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The Fragility of Two Monetary Regimes : The European Monetary System and the Eurozone
De Grauwe, Paul - 2013
We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone …. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the … markets that caused the fragility. We conclude that in the EMS the national central banks were weak and fragile, and the …
Persistent link: https://www.econbiz.de/10013074520
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3-year LTROs : a first assessment of a non-standard policy measure
Belke, Ansgar - 2013
This paper provides a first preliminary assessment of the recent two 3-year long-term refinancing operations (3Y LTROs) conducted by the ECB by putting them into a broader context. The perspective taken is that prevailing in the first half of the year 2012, directly after the path-breaking ECB...
Persistent link: https://www.econbiz.de/10010255141
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The fragility of two monetary regimes: The European Monetary System and the Eurozone
De Grauwe, Paul; Ji, Yuemei - 2013
We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone …. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the … markets that caused the fragility. We conclude that in the EMS the national central banks were weak and fragile, and the …
Persistent link: https://www.econbiz.de/10011506763
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The fragility of two monetary regimes: The European Monetary System and the Eurozone
Grauwe, Paul De; Ji, Yuemei - Nationale Bank van België/Banque national de Belqique (BNB) - 2013
We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone …. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the … markets that caused the fragility. We conclude that in the EMS the national central banks were weak and fragile, and the …
Persistent link: https://www.econbiz.de/10011272767
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Activation of new ECB emergency program TPI not required so far
Bernoth, Kerstin; Dietz, Sara; Ider, Gökhan; Lastra, … - In: DIW weekly report : economy, politics, science : a … 12 (2022) 40, pp. 249-256
Since the beginning of 2022, monetary policy in the euro area has been gradually normalizing. As a result, bond yields of highly indebted countries such as Italy and Greece are rising more sharply than those of countries with less debt, such as Germany, a development referred to as bond market...
Persistent link: https://www.econbiz.de/10013410756
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After 25 years as faithful members of the EU : public support for the euro and trust in the ECB in Austria, Finland and Sweden
Roth, Felix; Jonung, Lars - 2020
Austria, Finland and Sweden became members of the EU in 1995. This paper examines how support for the euro and trust in the European Central Bank (ECB) have evolved in these three countries since their introduction at the turn of the century. Support for the euro in the two euroarea members...
Persistent link: https://www.econbiz.de/10012269193
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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723
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Interest Rate Convergence in the EMS Prior to European Monetary Union
Frömmel, Michael - 2009
In this paper we analyze the convergence of interest rates in the European MonetarySystem (EMS) in a framework of … specific historical situation in the EMS the interest rate differential was non-stationary before the full convergence of …
Persistent link: https://www.econbiz.de/10013159293
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Central bank collateral frameworks
Nyborg, Kjell G. - 2015
This paper seeks to inform about a feature of monetary policy that is largely overlooked, yet occupies a central role in modern monetary and financial systems, namely central bank collateral frameworks. Their importance can be understood by the observation that the money at the core of these...
Persistent link: https://www.econbiz.de/10011296085