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Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus

Hristov, Nikolay - 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/10012836323

Measuring the Effects of U.S. Uncertainty and Monetary Conditions on EMEs’ Macroeconomic Dynamics

Rivolta, Giulia - 2020

We explore empirically the transmission of U.S. financial and macroeconomic uncertainty to emerging market economies (EMEs). We start by assuming that there are crucial differences between volatility and uncertainty, and between the latter and its shocks. With the help of Bayesian vector...

Persistent link: https://www.econbiz.de/10012837420

Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus

Hristov, Nikolay - 2020

Persistent link: https://www.econbiz.de/10012838235

The Macroeconomic Impact of the ECB's Expanded Asset Purchase Programme (APP)

Gambetti, Luca - 2017

stochastic volatility. The evidence suggests that the APP had a significant upward effect on both real GDP and HICP inflation in … HICP inflation seems more marked in the medium term. Moreover, several channels of transmission appear to have been … activated, including the portfolio rebalancing channel, the exchange rate channel, the inflation re-anchoring channel and the …

Persistent link: https://www.econbiz.de/10012954345

Seeking Price and Macroeconomic Stabilisation in the Euro Area : The Role of House Prices and Stock Prices

Shah, Imran - 2017

of the inflation rate in order to allow the European Central Bank (ECB) to achieve both price and macroeconomic stability …

Persistent link: https://www.econbiz.de/10012956120

Monetary Policy Communication Shocks and the Macroeconomy

Goodhead, Robert - 2019

cover the zero-lower bound period and find strong effects on inflation for long-horizon communication shocks …

Persistent link: https://www.econbiz.de/10012897008

Do the ECB’s Monetary Policies Benefit Emerging Market Economies? A GVAR Analysis on the Crisis and Post-Crisis Period

Colabella, Andrea - 2019

This paper studies the spillover effects of the ECB's monetary policies on non-euro area countries over the period 2004-2016, using a GVAR methodology, applied to a large sample of countries and an ample set of variables. Monetary policies are proxied by short-term interest rates and the Wu and...

Persistent link: https://www.econbiz.de/10012865371

Uncovering the Heterogeneous Effects of ECB Unconventional Monetary Policies Across Euro Area Countries

Burriel, Pablo - 2016

. Unconventional monetary policy measures have beneficial effects on activity, credit, inflation and equity prices, and lead to a …

Persistent link: https://www.econbiz.de/10012977366

Reference Rates and Monetary Policy Effectiveness in Korea

Jung, Heung Soon - 2016

inflation shocks also give rise to increased instability due to economic downturns, and the relative performances of the …

Persistent link: https://www.econbiz.de/10013003150

Monetary Policy, Hot Money and Housing Price Growth Across Chinese Cities

Huang, Xiaoyu - 2020

We use a dynamic hierarchical factor model to identify the national, regional, and local factors of the city-level housing price growth in China from 2005 to 2015. During the zero-lower-bound (ZLB) episode in the U.S., local factors account for 78% of variations in the month-on-month city-level...

Persistent link: https://www.econbiz.de/10012854498