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At the end of World War II, the United States emerged as a world leader, putting into place international institutions based on its own liberal economic philosophy. Since then, the world has witnessed an increasing interconnectedness among states, with economic relationships continually blurring...
Persistent link: https://www.econbiz.de/10009475090
We study the impact of outright (i.e., permanent) Open Market Operations (POMOs) by the Federal Reserve Bank of New York (FRBNY) on the microstructure of the secondary U.S. Treasury market. POMOs are trades in U.S. Treasury securities aimed at accomplishing the Federal Reserve’s target level...
Persistent link: https://www.econbiz.de/10009477265
The financial crisis of 2007-2008 led to extraordinary government intervention in firms and markets. The scope and depth of government action rivaled that of the Great Depression. Many traded markets experienced dramatic declines in liquidity leading to the existence of conditions normally...
Persistent link: https://www.econbiz.de/10009477864
countries. These findings cast doubt on the optimistic view taken by the ECB concerning its success in controlling inflation …
Persistent link: https://www.econbiz.de/10009481432
reversed, and that in the euro period the Friedman-Ball link is empirically supported, implying that the ECB can achieve lower …
Persistent link: https://www.econbiz.de/10009481449
through inflation targeting. The ECB aims at a target inflation rate below but close to 2%. However, the diversity among the … economists and politicians criticize the ECB for its monetary decision-making, which affects various member states differently … objectives on the ECB decision-making process. The main purpose of this paper is to study the reasoning behind this commonly …
Persistent link: https://www.econbiz.de/10009449317
Artículo de revista ; With the onset of the COVID-19 crisis, the ECB’s Governing Council modified the conditions of the …
Persistent link: https://www.econbiz.de/10013199059
Persistent link: https://www.econbiz.de/10013205920
curves to the announcement of the ECB’s pandemic emergency purchase programme (PEPP) is hard to reconcile with the standard …
Persistent link: https://www.econbiz.de/10013272233
, and use it to estimate the impact of the ECB’s asset purchase programmes in the context of a no-arbitrage affine term …
Persistent link: https://www.econbiz.de/10013482139