Search Results - Business Economics

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

Rudel, Paul; Tillmann, Peter - 2024

improves sentiment and business cycle expectations in the euro area, which is consistent with the notion of the Fed revealing …

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

Financial markets and dissent in the ECB's governing council

Tillmann, Peter - 2020

The decision-making process in the ECB's Governing Council remains opaque as the ECB, in contrast to many other central banks, does not publish the votes for or against a policy proposal. In this paper, we construct an index of dissent based on the ECB presidents' answers to journalists'...

Persistent link: https://www.econbiz.de/10012543060

The great recession and its effects on monetary policy : from policy transmission to target dynamics

Dany-Knedlik, Geraldine - 2018

Since the global financial crisis, monetary economics new questions include the explanation and response to unusual …

Persistent link: https://www.econbiz.de/10012154729

ECB vs Bundesbank : diverging tones and policy effectiveness

Tillmann, Peter; Walter, Andreas - 2018

The present paper studies the consequences of conflicting narratives for the transmission of monetary policy shocks. We focus on conflict between the presidents of the ECB and the Bundesbank, the main protagonists of monetary policy in the euro area, who often disagreed on policy over the past...

Persistent link: https://www.econbiz.de/10011858943

Pushing on a string : state-owned enterprises and monetary policy transmission in China

Chen, Hongyi; Li, Ran; Tillmann, Peter - 2018 - This version: February 06, 2018

This paper studies whether monetary transmission in China is asymmetric. While researchers found an asymmetric transmission in the U.S. and other economies, China offers a specific rationale for asymmetries: the presence of state-owned enterprises (SOEs) enjoying preferential access to...

Persistent link: https://www.econbiz.de/10011803747

Mortgage debt and time-varying monetary policy transmission

Finck, David; Schmidt, Jörg; Tillmann, Peter - 2018

We study the role of monetary policy for the dynamics of U.S. mortgage debt, which is the largest component of household indebtedness. A timevarying parameter VAR model allows us to study the variation in the mortgage debt sensitivity to monetary policy. We find that an identically-sized policy...

Persistent link: https://www.econbiz.de/10011803783

Remittance inflows and state-dependent monetary policy transmission in developing countries

Machasio, Immaculate; Tillmann, Peter - 2016

Remittance inflows from overseas workers are an important source of foreign funding for developing and emerging economies. The literature is in- conclusive about the cyclical nature of remittance inflows. To the extent remittances are procyclical they pose a challenge to monetary policy: a...

Persistent link: https://www.econbiz.de/10011552526