that communication plays a significant role in enhancing the accuracy when trying to estimate the bank's reaction function …

Euro redenomination risk is the risk that a euro asset will be redenominated into a devalued legacy currency. We … propose a time-varying, country-specific market perception of intra-euro area redenomination risk measure, defined as the … and using Germany as benchmark, we show that the redenomination risk shocks, defined as the unexplained component of the …

While the established literature on central bank communication has traditionally dealt with communication of monetary … policy messages to financial markets and the wider public, central bank communication on fiscal policy has so far received … little attention. This paper empirically reviews the intensity of central banks' fiscal communication by five central banks …

While it has become clear that communication is a monetary policy tool for central banks, and extensive research has … been conducted on central bank communication with financial markets, little is known so far on central bank communication … European Central Bank (ECB) and on understanding of its communication about the Pandemic Emergency Purchase Programme, which …

´s monetary policy and augment them with communication indicators. First, we find that the ECB responded to risks to price …

´s monetary policy and augment them with communication indicators. First, we find that the ECB responded to risks to price …

that rather than using the single short-term, low-risk interest rate as in current official statistics, reference rates … should more closely match the risk characteristics of loans and deposits. For the euro area, imputed bank output is, on …

The analysis of the conditions under which, and extent to which climate-adjusted financial risk assessment affects … limiting firms’ capacity to invest in low-carbon activities that could decrease their exposure to transition risk and help them …

This paper investigates the contribution of private and public channels for consumption risk sharing in the EMU over … estimating how risk sharing has evolved since the start of the EMU, and in particular during the recent crisis. Our results …