This paper investigates why financial market experts misperceive the interest rate policy of the European Central Bank …

that inflation dynamics differed considerably across Euro area countries before the start of EMU. Since 1999, however … theoretical predictions, we find that the persistence of inflation has significantly decreased in the Euro area probably as a …

process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO …The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission … disconnection of money market rates from the policy-intended interest rate level. These findings support the fixed rate full …

We investigate the pass-through of monetary policy to bank lending rates in the euro area during the sovereign debt …

this paper the macroeconomic consequences of cross-border banking in monetary unions such as the euro area. For this … financial sector may have exacerbated the emergence of macroeconomic imbalances within the euro area. Additionally, we show the …

We study the intraday interest rate in a CCP-based GC pooling repo market and its key determinants. Since collateral … used in this market is identical to collateral eligible for the daylight overdraft facility of the Eurosystem, any intraday … rate in this market cannot be a result of collateral constraints keeping banks from using the overdraft for arbitrage …