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Information effects of euro area monetary policy : new evidence from high-frequency futures data
Kerssenfischer, Mark - 2019
Central bank announcements move financial markets. The response of inflation and growth expectations, on the other hand, is often small or even counterintuitive. Based on tick-by-tick futures prices on bonds and stock prices, I confirm these seemingly puzzling results for the euro area and...
Persistent link: https://www.econbiz.de/10011972952
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Information Effects of Euro Area Monetary Policy : new evidence from high-frequency futures data
Kerssenfischer, Mark - 2019
Central bank announcements have strong effects on interest rates, but small or even counterintuitive effects on economic expectations. Based on tick-by-tick futures prices on bonds and stock prices, I confirm these seemingly puzzling results for the euro area and provide evidence that they are...
Persistent link: https://www.econbiz.de/10012265893
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012151693
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
-Investitions-Nexus für die Effektivität der Europäischen Zentralbank in den Vordergrund. Wir stellen zunächst den theoretischen Rahmen … Zinsen auf Unternehmenskredite in 5 Ländern der Eurozone für den Zeitraum 2001Q1 bis 2018Q1. In den meisten Ländern finden … unterscheiden. Dies stellt eine Herausforderung für eine gemeinsame Geldpolitik dar. Hingegen verändert die Berücksichtigung von …
Persistent link: https://www.econbiz.de/10012034406
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank’s effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012063971
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012099559
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Does the ECB follow the FED?
Belke, Ansgar - 2002
Persistent link: https://www.econbiz.de/10001780949
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The Quantitative Easing of the ECB and the Decision of the Swiss National Bank for a Free CHF in January 2015 : A Joint Analysis
Rey, Nicolas - 2015
Consumer prices in the Eurozone have just been announced: -0.6% for January 2015. In an effort to bring inflation back …
Persistent link: https://www.econbiz.de/10013020818
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Does the ECB Consider the Persistence of Inflation Differentials?
Bennani, Hamza - 2015
We assess the relevance of the monetary policy of the ECB in the context of persistent inflation differentials among euro area members and ask whether it takes into account this structural difference. Our results reveal that the ECB has adopted an appropriate monetary policy rule to prevent low...
Persistent link: https://www.econbiz.de/10013026994
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The Net Stable Funding Ratio and Banks’ Participation in Monetary Policy Operations : Some Evidence for the Euro Area
Scalia, Antonio - 2013
Based on a review of the analytical underpinnings of the effects of the NSFR on banks' choices, this paper attempts to relate banks' strategies to developments in the value of the ratio in the euro area. In spite of a not-so-near implementation date, the evidence is that the NSFR already matters...
Persistent link: https://www.econbiz.de/10013071580