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Fund-level FX hedging Redux
Bräuer, Leonie (contributor); Hau, Harald (contributor) - European Central Bank - 2024
-2023, we explore how the FX derivative trading by European funds compares to a feasible theoretical benchmark of optimal … sub-optimal. Overall, the observed FX derivative trading does not significantly reduce the return risk of the average …
Persistent link: https://www.econbiz.de/10015320855
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The payment system : payments, securities and derivatives, and the role of the Eurosystem
Kokkola, Tom (contributor) - European Central Bank - 2010
Persistent link: https://www.econbiz.de/10015310541
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European Commission's public consultation on derivatives and market infrastructures : Eurosystem contribution
European Central Bank - 2010
Persistent link: https://www.econbiz.de/10015310775
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The payment system : payments, securities and derivatives, and the role of the Eurosystem
Kokkola, Tom (contributor) - European Central Bank - 2010
Persistent link: https://www.econbiz.de/10015311474
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OTC derivatives and post-trading infrastructures
European Central Bank - 2009
Persistent link: https://www.econbiz.de/10015312001
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Credit default swaps and counterparty risk
European Central Bank - 2009
Persistent link: https://www.econbiz.de/10015312004
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THE RESPONSE OF FIRM´ INVESTMENT AND FINANCING TO ADVERSE CASH FLOW SHOCKS - THE ROLE OF BANK RELATIONSHIPS
Fuss, Catherine; Vermeulen, Philip - European Central Bank - 2006
We test whether firms with a single bank are better shielded from loss of credit and investment cutsin periods of adverse cash flow shocks than firms with multiple bank relationships. Our estimatesof the cash flow sensitivity of investment show that both types of firms are equally subject...
Persistent link: https://www.econbiz.de/10005861052
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Finance and growth: a macroeconomic assessment of the evidence from a European angle
Papaioannou, Elias - European Central Bank - 2007
This paper reviews the literature on the finance-growth nexus within a neoclassical growth framework, placing an … Agenda. While more research is needed to establish causality and verify the theoretical channels linking access to finance …
Persistent link: https://www.econbiz.de/10005530674
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Monetary transmission in Germany: new perspectives on financial constraints and investment spending
Von Kalckreuth, Ulf - European Central Bank - 2001
In order to obtain a better understanding of the transmission channels for monetary policy, this paper assesses the importance of the interest rate and credit channels on business fixed investment in Germany. Our unbalanced panel of financial statements contains 44,345 firm/year observations for...
Persistent link: https://www.econbiz.de/10005344886