Similar Search Results

Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus

Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020

We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy shocks,...

Persistent link: https://www.econbiz.de/10012197879

Quantitative Easing and the Term Premium Channel in the Euro Area

Vaccaro-Grange, Etienne - 2023

-term yields is therefore essential to quantify the transmission of QE through the yield curve. In this paper, I study the term … premium channel over the risk-neutral channel, both for the transmission of QE to the yield curve and to aggregate …

Persistent link: https://www.econbiz.de/10014353533

The effects of the eurosystem's APP on euro area bank lending : letting different data speak

Bläs, Barno; Kraaz, Björn; Offermanns, Christian J. - 2019

We study the implications of the Eurosystem's expanded Asset Purchase Programme (APP) for the bank lending business of euro area banks with euro area non-financial corporations (NFCs) using microeconometric matching techniques. Based on confidential bank-level data on quantitative balance sheet...

Persistent link: https://www.econbiz.de/10012041935

Unconventional monetary policy in an open economy

Gieck, Jana - 2014

this paper suggest that coordination in unconventional monetary policy may not always yield an optimal outcome, and …

Persistent link: https://www.econbiz.de/10010471077

Impact of targeted credit easing by the ECB : Bank-level evidence

Bats, Joost; Hudepohl, Tom - 2020

The interest rate in the second series of ECB targeted longer-term refinancing operations is conditional on a participant-specific lending benchmark. The restrictiveness of this benchmark varies between banks. We employ estimations on a unique micro dataset and investigate the relationship...

Persistent link: https://www.econbiz.de/10014106687

The consequences of unconventional monetary policy in euro area in times of monetary easing

Pažický, Martin - In: Oeconomia Copernicana 9 (2018) 4, pp. 581-615

Persistent link: https://www.econbiz.de/10012230243

Underpricing in the euro area corporate bond market : new evidence from post-crisis regulation and quantitative easing

Rischen, Tobias; Theissen, Erik - 2018

We conduct the most extensive study of underpricing in the euro area bond market so far and find strong evidence of underpricing. In cross-sectional regressions we find patterns that are consistent with bookbuilding-based theories of underpricing and inconsistent with liquidity-based...

Persistent link: https://www.econbiz.de/10011879015

Mixing QE and interest rate policies at the effective lower bound : micro evidence from the Euro Area

Bittner, Christian; Rodnyansky, Alexander; Saidi, Farzad; … - 2023

Persistent link: https://www.econbiz.de/10013491537

The effect of ECB monetary policies on interest rates and volumes

Creel, Jérôme; Hubert, Paul; Viennot, Mathilde - In: Applied economics 48 (2016) 46/48, pp. 4477-4501

Persistent link: https://www.econbiz.de/10011640122

Unconventional Monetary Policy, Bank Lending, and Security Holdings : The Yield-Induced Portfolio Rebalancing Channel

Paludkiewicz, Karol - 2018

a yield-induced portfolio rebalancing channel: Banks experiencing a larger average yield decline in their securities …. The effect is stronger for banks facing many reinvestment decisions. Moreover, I find that banks with larger yield … findings suggest that banks target a specific yield level and shift their investments from the securities to the higher …

Persistent link: https://www.econbiz.de/10012914660