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Heterogeneous macro and financial effects of ECB asset purchase programs

Zwan, Terri van der; Kole, Erik; Wel, Michel van der - 2021

Central banks resorted to asset purchase programs to replace conventional policy measures, which became ineffective after interest rates approached the zero lower bound. We investigate their effects on financial markets and focus on heterogeneous transmission using a Bayesian structural vector...

Persistent link: https://www.econbiz.de/10012795397

Heterogeneous macro and financial effects of ECB asset purchase programs

Zwan, Terri van der; Kole, Erik; Wel, Michel van der - In: Journal of international money and finance 143 (2024), pp. 1-17

Persistent link: https://www.econbiz.de/10014551359

Interest rate pass-through in the Euro area during the financial crisis : a multivariate regime-switching approach

Aristei, David; Viera-Gallo, Manuela - In: Journal of policy modeling : JPMOD ; a social science … 36 (2014) 2, pp. 273-295

Persistent link: https://www.econbiz.de/10010360907

Monetary policy under the microscope : intra-bank transmission of asset purchase programs of the ECB

Cycon, Lisa; Koetter, Michael - 2015

monetary policy by the European Central Bank (ECB) reduced corporate borrowing costs. We decompose corporate lending rates into … loan rate components, we exploit the co-existence of eurozone-wide security purchase programs and regional fiscal policies … at the district level. ECB purchase programs reduced refinancing costs significantly, even in an economy not specifically …

Persistent link: https://www.econbiz.de/10011317902

The role of systemic risk spillovers in the transmission of Euro Area monetary policy

Skouralis, Alexandros - In: Open economies review 34 (2023) 5, pp. 1079-1106

Persistent link: https://www.econbiz.de/10014443848

Heterogeneous effects of unconventional monetary policy on bond yields across the euro area

Demir, İshak; Eroğlu, Burak Alparslan; … - 2019

4207 This paper investigates the impact of European Central Bank's unconventional monetary policies between 2008-2016 on the government bond yields of eight European Monetary Union countries and up to eleven diﬀerent maturities. In identifying this impact, it adopts a novel econometric...

Persistent link: https://www.econbiz.de/10012147209

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

Rischen, Tobias; Theissen, Erik - In: Journal of financial intermediation 46 (2021), pp. 1-16

Persistent link: https://www.econbiz.de/10012818035

Heterogeneous effects of unconventional monetary policyon the bond yields across the euro area

Demir, İshak; Eroğlu, Burak Alparslan; … - 2021

This paper investigates the impact of the European Central Bank's unconventionalmonetary policies (UMP) between 2008-2019 on the European government bond yields.It adopts a novel econometric approach that combines a data-rich factor analysis andVAR with heteroskadasiticy based identification....

Persistent link: https://www.econbiz.de/10012496467

Yields on sovereign debt, fragmentation and monetary policy transmission in the euro area : a GVAR approach

Echevarría-Icaza, Víctor; Sosvilla-Rivero, Simón - 2017

Persistent link: https://www.econbiz.de/10011716516

Sovereign stress, banking stress, and the monetary transmission mechanism in the Euro area

Holtemöller, Oliver; Scherer, Jan-Christopher - 2018

In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in the level and in the heterogeneity of nonfinancial firms' financing costs in the Euro area during the European debt crisis and how both have affected the monetary transmission...

Persistent link: https://www.econbiz.de/10011787375

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