Showing 1 - 10 of 266
The recent financial crisis deeply affected the money market yield curve and thus, potentially, the proper functioning of the interest rate channel of monetary policy transmission. Therefore, we analyze the effectiveness of monetary policy in steering euro area moneymarket rates using two...
Persistent link: https://www.econbiz.de/10013127697
We explore the network topology of the federal funds market. This market is important for distributing liquidity throughout the financial system and for the implementation of monetary policy. The recent turmoil in global financial markets underscores its importance. We find that the network is...
Persistent link: https://www.econbiz.de/10012765723
homogeneous in France, where the banking industry has a higher degree of market concentration. Second, there is some evidence that …
Persistent link: https://www.econbiz.de/10013078975
banks operating in Italy and France over the period 2000–2015, exploring the existence of an international bank lending … US monetary policy tightening leads to a reduction of lending to the domestic economy in both France and Italy, and this …
Persistent link: https://www.econbiz.de/10013315370
The recent financial crisis deeply affected the money market yield curve and thus, potentially, the proper functioning of the interest rate channel of monetary policy transmission. Therefore, we analyze the effectiveness of monetary policy in steering euro area money market rates using two...
Persistent link: https://www.econbiz.de/10011605374
We explore the network topology of the federal funds market. This market is important for distributing liquidity throughout the financial system and for the implementation of monetary policy. The recent turmoil in global financial markets underscores its importance. We find that the network is...
Persistent link: https://www.econbiz.de/10011605032
This paper studies frictions in the euro area interbank deposit overnight market, making use of high frequency individual quote and trade data. The aim of the analysis is to determine, in a quantitative way, how efficient this market is. Besides a comprehensive descriptive analysis, the approach...
Persistent link: https://www.econbiz.de/10011604485
In this paper, we use the Furfine (1999) statistical procedure to identify money market operations from Payments Systems data. Given the availability of an alternative data set, recording money market operations we could confirm the accuracy of the method. We examine evidence on integration of...
Persistent link: https://www.econbiz.de/10011605031
In this paper, we use the Furfine (1999) statistical procedure to identify money market operations from Payments Systems data. Given the availability of an alternative data set, recording money market operations we could confirm the accuracy of the method. We examine evidence on integration of...
Persistent link: https://www.econbiz.de/10014212409
This paper investigates the impact of ample liquidity provision by the European Central Bank on the functioning of the overnight unsecured interbank market from 2008 to 2014. We use novel data on interbank transactions derived from TARGET2, the main euro area payment system. To identify...
Persistent link: https://www.econbiz.de/10012998230