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Die Europäische Investitionsbank : subsidiärer Finanzintermediär oder Umverteilungsinstrument?

Heinemann, Friedrich - 1992

Persistent link: https://www.econbiz.de/10000138864

Die Europäische Investitionsbank : subsidiärer Finanzintermediär oder Umverteilungsinstrument?

Heinemann, Friedrich - 1992

Die Europäische Investitionsbank (EIB) mobilisiert in quantitativ bedeutendem Ausmaß Finanzmittel für EG-Politikfelder außerhalb des EG-Haushalts. Die von der Bonität des Schuldners abhängige implizite Zinssubvention ist wohlfahrtstheoretisch nicht zu rechtfertigen. Es ist zu vermuten,...

Persistent link: https://www.econbiz.de/10011621697

Dispelling the shadow of fiscal dominance? : fiscal and monetary announcement effects for euro area sovereign spreads in the corona pandemic

Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021 - This version: June 2021

We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government … bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players - the ECB or the EU … only for the announcement of the 'Next Generation EU' program. In contrast, a temporary relaxation of European fiscal rules …

Persistent link: https://www.econbiz.de/10012534642

Macroprudential policy and the sovereign-bank nexus in the euro area

Hristov, Nikolay; Hülsewig, Oliver; Kolb, Benedikt - 2021

We explore how changes in capital-based macroprudential regulation affect theexposure of national banking sectors to domestic government debt in the euro area,thus strengthening or weakening the sovereign-bank nexus. To do so, we construct ameasure of macroprudential policy based on...

Persistent link: https://www.econbiz.de/10012623677

Macroprudential capital regulation and fiscal balances in the euro area

Hristov, Nikolay; Hülsewig, Oliver; Kolb, Benedikt - 2024

We examine the fiscal footprint of macroprudential policy in euro area countries arising through the bond market channel (Reis, 2021). Using local projections, we estimate impulse responses of the fiscal balance to an unexpected tightening in macroprudential capital regulation. Our findings...

Persistent link: https://www.econbiz.de/10014481139

The role of emission disclosure for the low-carbon transition

Frankovic, Ivan; Kolb, Benedikt - 2023

We show the importance of emission disclosure for climate policies in a DSGE model for the euro area. A low-carbon energy and a fossil energy sector contribute to production and are financed by balance-sheet constrained intermediaries. The underestimation of emissions from fossil energy firms...

Persistent link: https://www.econbiz.de/10014467912