This paper develops a theoretical model which replicates main features of the euro overnight interbank market and the … central bank. The model can explain several stylized facts observed during the financial crisis as the decline in interbank …

Central Bank and to the decisions of the Central Banks of other countries. In particular, using daily interest rates to … estimate the impact of the monetary policy announcements of a Central Bank, we analyse the effect of the FED, ECB, and BoE …, the response of Euro bond rates to the FED announcements is stronger than their response to ECB announcements …

environments. We also observe that the impact of monetary policy on the returns of commercial banks is affected by bank …-specific characteristics. Bank size, leverage and profitability play an important role in explaining the cross-sectional variation in bank … returns as a result of monetary policy changes. We find that cross-sectional bank-specific characteristics affect the bank …

shocks normalised. We discover that, in the post-crisis episode, Fed monetary policy shocks influenced euro area bank stock … significant impact on the health of euro area banks. Information effects, which made the private sector more pessimistic about …. We show that ECB communications at the press conference were crucial for the market response and that bank health …

shocks normalised. We discover that, in the post-crisis episode, Fed monetary policy shocks influenced euro area bank stock … significant impact on the health of euro area banks. Information effects, which made the private sector more pessimistic about …. We show that ECB communications at the press conference were crucial for the market response and that bank health …

We address the role of information heterogeneity in the Euro interbank market for unsecured term lending. We use high … the euro area money market. We find that the probability of finding a trading counterparty with a wider information set …-informed bank is higher on days when open market operations take place, and at the end of the maintenance period. This effect has …

Monetary policy in the euro area is conducted within a multi-country, multi-cultural, and multi-lingual context …

Monetary policy in the euro area is conducted within a multi-country, multicultural, and multi-lingual context …

This paper examines bond and stock market volatility reactions in the euro area and the US following their respective … the US and euro area bond and stock markets are used. A strong upsurge in intraday volatility at the time of the release … policy path. The observed strong discrepancy between asset price reactions in the US and in the euro area following monetary …