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Asset-liability management with ultra-low interest rates
Grossman, Richard S.; Molyneux, Philip; Lambert, Frederic; … - Conference on Asset-Liability Management with Ultra-Low …; … - 2015
On 11 March 2015, SUERF jointly organised a conference with the Oesterreichische Nationalbank and the Austrian Society for Bank Research (Bankwissenschaftliche Gesellschaft - BWG). The present SUERF Study 2015/2 includes a selection of papers based on the authors' contributions to the Vienna...
Persistent link: https://www.econbiz.de/10011413495
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Financial Instability : The Unsolved Mystery of Financial Folly
Taskinsoy, John - 2023
The global economy changed dramatically ever since the US dollar ascended to the top position in the early 1940s as the world’s main reserve currency. As observed from recent events, the United States is both willing and very capable of taking unimaginable measures to defend American...
Persistent link: https://www.econbiz.de/10014358667
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Stock markets, banks and long run economics growth : a panel cointegration-based analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz C. - 2013
and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010223077
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Causality relationships between climate policy uncertainty, renewable energy stocks, and oil prices : a mixed-frequency causality analysis
Zaier, Leila Hedhili; Mokni, Khaled; Ajmi, Ahdi Noomen - In: Future Business Journal 10 (2024) 1, pp. 1-11
globally. By applying a mixed-frequency causality test (MFCT), the analysis reveals significant predictability across different … classical Granger causality test on low-frequency (monthly) data indicates an insignificant relationship between CPU and RE …
Persistent link: https://www.econbiz.de/10015410627
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Exit strategies and their impact on the Euro area : a model based view
Belke, Ansgar - 2014
Dieser Beitrag untersucht die Argumente für und gegen einen Ausstieg aus der expansiven Geldpolitik. Der Fokus liegt dabei auf der Betrachtung der Effekte eines Ausstiegs der amerikanischen Notenbank Fed auf die Eurozone. Dies erscheint sinnvoll, da die Fed als eine der ersten großen...
Persistent link: https://www.econbiz.de/10010227698
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Exit strategies and their impact on the Euro area : a model based view
Belke, Ansgar - 2014
This paper comments on the pros and cons of exit strategies. The focus is on the impact on the Euro area economy of the exit from unconventional monetary policies (UMP) by the Fed, which, appears to be the first central bank to lay out an exiting path. In this context, it discusses the issue of...
Persistent link: https://www.econbiz.de/10010371341
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The International Transmission of Monetary Policy in Presence of Government Debt : A GVAR Approach
Assadi, Marzieh - 2016
This paper aims to contribute to the empirical literature on the international spillovers of US monetary policy, whilst accounting for fiscal policy. The main motivation of the paper is to identify the way in which fiscal policy is able to influence the monetary transmission mechanism and...
Persistent link: https://www.econbiz.de/10012976879
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Constructing a composite indicator to assess cyclical systemic risks : an early warning approach
Koponen, Heidi - 2024
The main contribution of this paper is the construction of a cyclical systemic risk indicator from early warning indicators of banking crises (EWIs) used in Finland. Previous research has shown that combining EWIs can enhance their early warning properties. This study evaluates the indicator's...
Persistent link: https://www.econbiz.de/10014526680
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New challenges in central banking : monetary policy governance and macroprudential issues
Gnan, Ernest; Masciandaro, Donato; Cerutti, Eugenio M.; … - New Challenges in Central Banking: Monetary Policy and …; … - 2017
Which are the new frontiers in central banking? Which things have changed in the aftermath of the financial, economic and sovereign debt crisis? These are questions raised frequently by central bankers, academics and interested observers alike. There are quite a few areas to cover in answering...
Persistent link: https://www.econbiz.de/10011754571
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The Low Inflation 'Puzzle' and Financial Crises
Carr, Douglas - 2019
Low and unresponsive inflation has been termed a “puzzle.” The paper describes a formula for which these conditions have been a prediction since early 2016.The Money Value Formula analyzes the unit value of a currency solely as a function of long lags of monetary aggregates. The Formula...
Persistent link: https://www.econbiz.de/10012858878