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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …
Persistent link: https://www.econbiz.de/10011308548
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Macroprudential policy and the sovereign-bank nexus in the euro area
Hristov, Nikolay; Hülsewig, Oliver; Kolb, Benedikt - 2021
domestic government debt in the euro area,thus strengthening or weakening the sovereign-bank nexus. To do so, we construct … theunsystematiccomponent of macroprudentialpolicy in panel vector autoregressive models for euro area “core" and “periphery"countries. Our main …
Persistent link: https://www.econbiz.de/10012623677
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Estimating the effects of the Eurosystem's asset purchase programme at the country level
Mandler, Martin; Scharnagl, Michael - 2020
We assess the macroeconomic effects of the Eurosystem's asset purchases on the four largest euro area economies using … identification assumptions mainly on euro area aggregate financial variables and on country averages of output and price responses …
Persistent link: https://www.econbiz.de/10012222564
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Monetary and macroprudential policy in an estimated DSGE model of the euro area
Quint, Dominic; Rabanal, Pau - 2014
the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential …
Persistent link: https://www.econbiz.de/10010258716
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Information effects of euro area monetary policy : new evidence from high-frequency futures data
Kerssenfischer, Mark - 2019
seemingly puzzling results for the euro area and provide evidence that they are due to central bank information effects. That is …
Persistent link: https://www.econbiz.de/10011972952
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The effect of conventional and unconventional euro area monetary policy on macroeconomic variables
Halberstadt, Arne; Krippner, Leo - 2016
We investigate the e ect of monetary policy on European macroeconomic variables using a small-scale vector autoregression (VAR) and the "Effective Monetary Stimulus" (EMS). The EMS is a monetary policy metric obtained from yield curve data that is designed to consistently reflect the overall...
Persistent link: https://www.econbiz.de/10011578396
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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
bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players - the ECB or the EU … fiscal level - has been more crucial for the stabilization of euro sovereign bond markets in the crisis environment of the …
Persistent link: https://www.econbiz.de/10012534642
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The impact of the European Monetary Union on inflation persistence in the euro area
Meller, Barbara; Nautz, Dieter - 2009
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 …
Persistent link: https://www.econbiz.de/10003875991
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Inflation, deflation, and uncertainty : what drives euro area option-implied inflation expectations and are they still anchored in the sovereign debt crisis?
Scharnagl, Michael; Stapf, Jelena - 2014
We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has … options on the euro area harmonized index of consumer prices provides us with the full distribution of inflation expectations …
Persistent link: https://www.econbiz.de/10010415789
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Negative monetary policy rates and systemic banks' risk-taking : evidence from the euro area securities register
Bubeck, Johannes; Maddaloni, Angela; Peydró, José-Luis - 2020
the 26 largest euro area banking groups. Banks with more customer deposits are negatively affected by negative rates, as …
Persistent link: https://www.econbiz.de/10012250648