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Deposit convexity, monetary policy, and financial stability
Greenwald, Emily; Schulhofer-Wohl, Sam; Younger, Joshua - 2023
Persistent link: https://www.econbiz.de/10014382843
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Stressed but not helpless : strategic behavior of banks under adverse market conditions
Halaj, Grzegorz; Priazhkina, Sofia - 2021 - Last updated: July 19, 2021
We model bank management actions in severe stress test conditions using a game-theoretical framework. Banks update …
Persistent link: https://www.econbiz.de/10012591729
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Regulatory requirements of banks and arbitrage in the post-crisis federal funds market
Garratt, Rod; Priazhkina, Sofia - 2022 - Last updated: November 28, 2022
This paper explains the nature of interest rates in the U.S. federal funds market after the 2007-09 financial crisis. We build a model of the over-the-counter lending market that incorporates new aspects of the financial system: abundance of liquidity, different regulatory standards for banks,...
Persistent link: https://www.econbiz.de/10013466133
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Central bank communication in the financial crisis : evidence from a survey of financial market participants
Hayo, Bernd; Neuenkirch, Matthias - 2014 - This version: 9 January 2014
In this paper, we study whether central bank communication has a positive effect on market participants' perception of … financial market participants from around the world who answered questions in reference to the Bank of England (BoE), the Bank … of Japan (BoJ), the European Central Bank (ECB), and the Federal Reserve (Fed). We find that market participants believe …
Persistent link: https://www.econbiz.de/10010356195
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Central bank communication in the financial crisis : evidence from a survey of financial market participants
Hayo, Bernd; Neuenkirch, Matthias - 2014 - This version: 9 January 2014
In this paper, we study whether central bank communication has a positive effect on market participants’ perception of … financial market participants from around the world who answered questions in reference to the Bank of England (BoE), the Bank … of Japan (BoJ), the European Central Bank (ECB), and the Federal Reserve (Fed). We find that market participants believe …
Persistent link: https://www.econbiz.de/10010226327
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The price of money : now collateral policy affects the yield curve
Nyborg, Kjell G.; Woschitz, Jiri - 2021
Central-bank collateral policy governs the convertibility of assets into central-bank money provided directly by the … central bank. Focusing on government bonds, we develop clean identification of variation in such convertibility by exploiting … maturities. Our findings imply that central-bank money is priced in the market and that a central bank can move and shape the …
Persistent link: https://www.econbiz.de/10012799625
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Applications of liquidity risk discovery using financial market infrastructures transaction archives
Heuver, Richard - 2020
Persistent link: https://www.econbiz.de/10012294786
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The financial market effects of the ECB's asset purchase programs
Lewis, Vivien; Roth, Markus - 2017
The European Central Bank's asset purchase programs, while intended to stabilize the economy, may have unintended side …
Persistent link: https://www.econbiz.de/10011712553
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Can a less boring ECB remain accountable?
Pisani-Ferry, Jean; Weizsäcker, Jakob von - 2009
Persistent link: https://www.econbiz.de/10003896548
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Central banks and the financial system
Giavazzi, Francesco; Giovannini, Alberto - 2010
"Financial systems are inherently fragile because of the very function which makes them valuable: liquidity transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot eliminate it completely. This leaves monetary policy with...
Persistent link: https://www.econbiz.de/10003995041