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Supervisory policy stimulus: Evidence from the euro area dividend recommendation

Dautovic, Ernest; Gambacorta, Leonardo; Reghezza, Alessio - 2023

At the onset of the Covid-19 outbreak, central banks and supervisors introduced dividend restrictions as a new policy … estimate the impact of the ECB's dividend recommendation on bank lending and risk-taking. To address identification issues, we … fiscal policies that supported credit during the Covid-19 downturn and investigates their interaction with the dividend …

Persistent link: https://www.econbiz.de/10014374584

How important are foreign shocks in small open economy? The case of Slovakia

Horváth, Roman; Rusnák, Marek - 2008

In this paper, we provide evidence on the nature and the relative importance of domestic and foreign shocks in Slovak economy based on block-restriction vector autoregression model in 1999-2007. We document well-functioning monetary transmission mechanism in Slovakia. Subject to various...

Persistent link: https://www.econbiz.de/10010322189

The single supervisory mechanism or “SSM”, part one of the Banking Union

Wymeersch, Eddy - 2014

The Regulation on the Single Supervisory Mechanism mandates the European Central Bank to exercise prudential supervision on the banks located in the Euro area, whether directly by the Bank’s own services for the significant banks, or indirectly by the national prudential supervisors but under...

Persistent link: https://www.econbiz.de/10011506775

The Political and Technical Aspects of Controlling Inflation

Gros, Daniel - In: Intereconomics 58 (2023) 3, pp. 133-135

After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...

Persistent link: https://www.econbiz.de/10014334696

Reversing the Great Monetary Expansion

Angeloni, Ignazio - In: Intereconomics 58 (2023) 3, pp. 142-147

Persistent link: https://www.econbiz.de/10014334698

Central banking for financial stability: Some lessons from the recent instability in the United States and euro area

Wall, Larry D. - 2012

Central banks have had an important role in maintaining financial stability through their lender of last resort role. As lender of last resort, the central bank is given enormous power which is normally tempered by a variety of limits. In the most recent crises in both the United States and euro...

Persistent link: https://www.econbiz.de/10010397238

Money in monetary policy design under uncertainty: the Two-Pillar Phillips Curve versus ECB-style cross-checking

Beck, Günter W.; Wieland, Volker - 2007

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much criticism for this decision. In this paper, we explore possible justifications. The case against including money in the central bank's interest rate rule is based on a standard model...

Persistent link: https://www.econbiz.de/10010295857

Money in monetary policy design under uncertainty: The two-pillar Phillips curve versus ECB-style cross-checking

Beck, Günter W.; Wieland, Volker - 2006

Persistent link: https://www.econbiz.de/10010298366

Money in monetary policy design under uncertainty: A formal characterization of ECB-style cross-checking

Beck, Günter W.; Wieland, Volker - 2006

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much criticism for this decision. The case against including money in the central bank's interest rate rule is based on a standard model of the monetary transmission process that underlies...

Persistent link: https://www.econbiz.de/10010298367

Communication and decision-making by central bank committees: different strategies, same effectiveness?

Ehrmann, Michael; Fratzscher, Marcel - 2005

The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking process in the committee. The paper shows that the Federal...

Persistent link: https://www.econbiz.de/10011604534