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Asymmetric Adjustment of Commercial Bank Interest Rates in the Euro Area : An Empirical Investigation into Interest Rate Pass-Through
Sander, Harald; Kleimeier, Stefanie - 2001
Our study extends the traditional pass-through literature by incorporating an error correction mechanism that is based on cointegration analyses allowing for structural breaks and symmetric as well as for a variety of asymmetric adjustment mechanisms. While some results of earlier pass-through...
Persistent link: https://www.econbiz.de/10014128699
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Asymmetric Adjustment of Commercial Bank Interest Rates in the Euro Area : An Empirical Investigation into Interest Rate Pass-Through
Sander, Harald; Kleimeier, Stefanie - 2001
This paper investigates the monetary transmission mechanism within the Euro area and is providing new evidence on the financial market side of the monetary mechanism in Europe. In particular, we examine the pass-through of money market rates to commercial bank lending rates by allowing for the...
Persistent link: https://www.econbiz.de/10014122856
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Monetary policy, credit institutions and the bank lending channel in the euro area
Altavilla, Carlo; Andreeva, Desislava Č.; Boucinha, Miguel - 2019
As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks’ balance sheets can have very sizeable implications for the transmission of monetary policy. This paper provides an overview of developments in banks’ balance sheets,...
Persistent link: https://www.econbiz.de/10012009071
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Interest Rate Reaction Functions for the Euro Area Evidence from Panel Data Analysis
Ruth, Karsten - 2016
Persistent link: https://www.econbiz.de/10012991354
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Central banking below zero : the implementation of negative interest rate policies in Europe and Japan
Angrick, Stefan; Nemoto, Naoko - 2017
This paper provides an overview of the operational implementation of negative interest rates in Europe and Japan. Drawing attention to the fact that there is precedent for negative policy rates and negative money market rates, the paper addresses conceptual issues and summarizes measures which...
Persistent link: https://www.econbiz.de/10011650059
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank’s effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012063971
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012099559
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
Der Zins ist ein wichtiges geldpolitisches Instrument zur Steuerung von Investitionen, um Preisstabilität zu … gewährleisten. Im derzeitigen Niedrigzinsumfeld rücken Implikationen der genauen Gestalt und der Größenordnung des Zins … untersucht. In diesem nicht-linearen Modell kommt es zu starken Reaktionen der Investitionsaktivität, sobald der Zins eine …
Persistent link: https://www.econbiz.de/10012034406
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012151693
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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723