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Estimating the monetary policy interest-rate-to-performance sensitivity of the European banking sector at the zero lower bound

Hayo, Bernd; Henseler, Kai; Rapp, Marc Steffen - In: Finance research letters 31 (2019), pp. 471-475

Persistent link: https://www.econbiz.de/10012421773

Are Euro Interest Rates Led by Fed Announcements?

Monticini, Andrea; Vaciago, Giacomo - 2005

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 …

Persistent link: https://www.econbiz.de/10014070608

Banks and Negative Interest Rates

Heider, Florian; Saidi, Farzad; Schepens, Glenn - 2021

how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the …

Persistent link: https://www.econbiz.de/10013250347

How banks respond to negative interest rates : evidence from the Swiss exemption threshold

Basten, Christoph; Mariathasan, Mike - 2018

Switzerland. For identification, we compare changes in the behavior of banks that had different fractions of their central bank …

Persistent link: https://www.econbiz.de/10011795014

Banks and Negative Interest Rates

Heider, Florian; Saidi, Farzad; Schepens, Glenn - 2021

how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the …

Persistent link: https://www.econbiz.de/10013227327

One Interest Rate for All - Has the European Central Bank Enough Instruments?

Maurer, Rainer - 2011

This paper explains the European debt crisis not as a result of insufficient fiscal discipline but as the result of a constructional flaw of the EMU. The reason for this flaw are the diverging real interest rates in EMU countries, which trigger self-reinforcing debt-spirals in the presence of...

Persistent link: https://www.econbiz.de/10013127890

Chapter 24. Implementation of Monetary Policy : How Do Central Banks Set Interest Rates?

Friedman, Benjamin M.; Kuttner, Kenneth N. - In: Handbook of monetary economics : volume 3, (pp. 1345-1438). 2010

variation in the supply of central bank liabilities. In effect, the announcement effect has displaced the liquidity effect as … bank to lend or absorb reserves in response to differences between the policy interest rate and the corresponding target. A …, but not on the current level per se, then the central bank can alter the market-clearing interest rate with no change in …

Persistent link: https://www.econbiz.de/10014025618

The Effects of Negative Interest Rates on Equity and Currency Markets

Lee, Seungho; Switzer, Lorne - 2022

This paper examines the effects of negative interest rate policies (NIRP) on foreign exchange and equity markets of eight European countries and Japan. NIRP announcement effects on currency depreciation are shown to be transitory. In contrast, on the day of NIRP implementation, both currency and...

Persistent link: https://www.econbiz.de/10014236107

News shock spillovers : how the euro area responds to expected fed policy

Rudel, Paul; Tillmann, Peter - 2024

Monetary policy increasingly relies on steering market expectations about future policy. This paper identifies a monetary policy news shock based on a VAR model. A monetary news shock is equivalent to new information about the Fed's future monetary policy becoming available today. One example of...

Persistent link: https://www.econbiz.de/10014637094

Effects of state-dependent forward guidance, large-scale asset purchases and fiscal stimulus in a low-interest-rate environment

Coenen, Günter; Montes-Galdon, Carlos; Smets, Frank - 2020

We study the incidence and severity of lower-bound episodes and the efficacy of three types of state-dependent policies - forward guidance about the future path of interest rates, large-scale asset purchases and spending-based fiscal stimulus - in ameliorating the adverse consequences stemming...

Persistent link: https://www.econbiz.de/10012137689