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in Europe associated with EMU had been significant. We use Granger-causality tests between the interest rates of Germany …. Our results would support a weak version of the hypothesis, with Germany playing a certain "leadership" or special role in …
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whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the …
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This paper analyzes the interest rate pass-through for Germany and the euro area using for the first time a fully … show the most sluggish pass-through behavior. In contrast to earlier studies, results for Germany and the euro area … excluding Germany are similar by and large. We therefore conclude that differences in the pass-through behavior seem to be …
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whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the …
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The market model of interest rates specifies simple forward or Libor rates as lognormally distributed, their stochastic dynamics has a linear volatility function. In this paper, the model is extended to quadratic volatility functions which are the product of a quadratic polynomial and a...
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We study the yields in the German treasury bills market. We take a detailed look at the yield banks require to buy treasury bills in the primary market, and we also examine the yield households and nonbank firms demand to buy these bills in the secondary market. We use data from real world...
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