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Central bank digital currency and cash in the euro area : current developments and one specific proposal
Rösl, Gerhard; Seitz, Franz - In: Credit and capital markets : Kredit und Kapital 55 (2022) 4, pp. 523-551
-paid scheme combining central elements of TARGET Instant Payment Settlement and electronic money features enabling offline and …
Persistent link: https://www.econbiz.de/10014518599
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Bank lending channel effectiveness : potential lessons for monetary policy
Świtała, Filip; Kowalska, Iwona; Malajkat, Karolina - In: Journal of banking and financial economics 19 (2023) 1, pp. 160-117
The article supplements the research on the effectiveness of monetary policy transmission - especially through the bank lending channel. The current study focuses on assessing the transmission of monetary impulses through commercial and cooperative banks as well as through individual loan...
Persistent link: https://www.econbiz.de/10014515074
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"Banking systems in the euro zone and transmission of monetary policy"
Fernández Fernández, José Alejandro - In: Central Bank review / Central Bank of the Republic of Turkey 24 (2024) 1, pp. 1-24
This study examines the transmission of monetary policy in the eurozone from 2005 to 2021. The novelty of this research lies in defining the European Central Bank's monetary policy through three dimensions extracted via principal component analysis. These components, examined across various...
Persistent link: https://www.econbiz.de/10014518532
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Estimating overidentified, nonrecursive, time-varying coefficients structural vector autoregressions
Canova, Fabio; Pèrez Forero, Fernando J. - In: Quantitative economics : QE ; journal of the … 6 (2015) 2, pp. 359-384
This paper provides a general procedure to estimate structural vector autoregressions. The algorithm can be used in constant or time-varying coefficient models, and in the latter case, the law of motion of the coefficients can be linear or non-linear. It can deal in a unified way with...
Persistent link: https://www.econbiz.de/10011757703
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Dauerkritik an der Europäischen Zentralbank: Falsch angewendete Theorie untergräbt Vertrauen in die Geldpolitik
Winkler, Adalbert - In: Wirtschaftsdienst 94 (2014) 7, pp. 479-486
Die Beschlüsse der Europäischen Zentralbank vom 5. Juni 2014 sind zum Teil heftig kritisiert worden. Damit setzt sich die überwiegend negative Bewertung an der Politik der Europäischen Zentralbank fort, die seit langem zu beobachten ist, aber im Widerspruch zur realen Entwicklung steht. Sie...
Persistent link: https://www.econbiz.de/10010471456
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The use of electronic money and its impact on monetary policy
Popovska-Kamnar, Neda - In: Journal of contemporary economic and business issues 1 (2014) 2, pp. 79-92
E-money is the newest payment instrument. As a part of the new electronic payment system (possible future substitute of … traditional payment), e-money raises the professional interest about its implications to further development of banking functions … in the global and networked economy. Statistical evidence confirms the existence of e-money in the developed countries …
Persistent link: https://www.econbiz.de/10011533629
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Dauerkritik an der Europäischen Zentralbank : falsch angewendete Theorie untergräbt Vertrauen in die Geldpolitik
Winkler, Adalbert - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 94 (2014) 7, pp. 479-486
Die Beschlüsse der Europäischen Zentralbank vom 5. Juni 2014 sind zum Teil heftig kritisiert worden. Damit setzt sich die überwiegend negative Bewertung an der Politik der Europäischen Zentralbank fort, die seit langem zu beobachten ist, aber im Widerspruch zur realen Entwicklung steht. Sie...
Persistent link: https://www.econbiz.de/10010404442
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The dynamics of household final consumption : the role of wealth channel
Alp, Esra; Seven, Ünal - In: Central Bank review / Central Bank of the Republic of Turkey 19 (2019) 1, pp. 21-32
Exploring dynamics of household final consumption is an important concern for policy-makers. Turkey had witnessed various financial shocks and crises over the last two decades. These turbulent economic periods affected consumption behaviour and therefore, other macroeconomic variables. In this...
Persistent link: https://www.econbiz.de/10012000880
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Monetary policy effects on equity returns : application of SVAR identified with high-frequency external instrument
Jang, Woon Wook - In: Journal of derivatives and quantitative studies 29 (2021) 4, pp. 319-331
The purpose of this study is to examine the effects of monetary policy on equity returns by applying an alternative econometric approach. Campbell and Ammer (1993) decomposed unexpected equity excess returns into three news components: risk premium news, real interest rate news and cash-flow...
Persistent link: https://www.econbiz.de/10012658788
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Activation of new ECB emergency program TPI not required so far
Bernoth, Kerstin; Dietz, Sara; Ider, Gökhan; Lastra, … - In: DIW weekly report : economy, politics, science : a … 12 (2022) 40, pp. 249-256
Since the beginning of 2022, monetary policy in the euro area has been gradually normalizing. As a result, bond yields of highly indebted countries such as Italy and Greece are rising more sharply than those of countries with less debt, such as Germany, a development referred to as bond market...
Persistent link: https://www.econbiz.de/10013410756