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Measuring euro area monetary policy
Altavilla, Carlo; Brugnolini, Luca; Gürkaynak, Refet S.; … - 2019
We study the information flow from the ECB on policy dates since its inception, using tick data. We show that three …
Persistent link: https://www.econbiz.de/10012009157
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Combining negative rates, forward guidance and asset purchases : identification and impacts of the ECB's unconventional policies
Rostagno, Massimo; Altavilla, Carlo; Carboni, Giacomo; … - 2021
This paper provides new empirical evidence that bears on the efficacy of unconventional monetary policies when the main policy rate is negative. When a negative interest rate policy (NIRP) is deployed in concert with rate forward guidance (FG) and quantitative easing (QE), the identification of...
Persistent link: https://www.econbiz.de/10012519567
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Market-stabilization QE
Motto, Roberto; Özen, Kadir - 2022
interpreted by real-time market commentaries as containing information about asset purchase programmes aimed to stabilise … reversal of ight-to-safety dynamics, it generates strong expansionary macroeconomic effects in all euro area countries …
Persistent link: https://www.econbiz.de/10012818740