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Interbank lending and monetary policy transmission : evidence for Germany
Ehrmann, Michael; Worms, Andreas - 2001
loan portfolio relatively unaffected. This may explain why the evidence for a bank lending channel in Germany seems to be …
Persistent link: https://www.econbiz.de/10011419387
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Interbank lending and monetary policy transmission : evidence for Germany
Ehrmann, Michael; Worms, Andreas - 2001
loan portfolio relatively unaffected. This may explain why the evidence for a bank lending channel in Germany seems to be …
Persistent link: https://www.econbiz.de/10001609076
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The effects of monetary policy in the euro area
Ehrmann, Michael; Gambacorta, Leonardo; Martínez … - In: Oxford review of economic policy 19 (2003) 1, pp. 58-72
Persistent link: https://www.econbiz.de/10001891651
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The Exchange Rate -a Shock-Absorber or Source of Shocks? A Study of Four Open Economies
Artis, Michael; Ehrmann, Michael - Robert Schuman Centre for Advanced Studies (RSCAS), … - 2000
Persistent link: https://www.econbiz.de/10005029515
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Bank networks and monetary policy transmission
Ehrmann, Michael; Worms, Andreas - In: Journal of the European Economic Association 2 (2004) 6, pp. 1148-1171
Persistent link: https://www.econbiz.de/10002535070
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Interbank lending and monetary policy transmission : evidence for Germany
Ehrmann, Michael; Worms, Andreas - 2001
Persistent link: https://www.econbiz.de/10004664319
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Monetary policy transmission in the euro area
Angeloni, Ignazio; Ehrmann, Michael - 2003
We examine the euro area monetary policy transmission process using post-1999 data, with two main questions in mind: has it changed after u0096 and because of u0096 EMU and, if so, is it becoming homogeneous across countries. Given the data limitations, we concentrate on three blocks of...
Persistent link: https://www.econbiz.de/10009635961
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Equal size, equal role?
Ehrmann, Michael; Fratzscher, Marcel - 2004
interest rates in the United States and the euro area. First, the paper finds that the interdependence of money markets has … large and significant effect on euro area money markets, and that these effects have become stronger in recent years …. This indicates that the higher money market interdependence between the United States and the euro area is at least partly …
Persistent link: https://www.econbiz.de/10009639396
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Taking stock
Ehrmann, Michael; Fratzscher, Marcel - 2004
This paper analyses the effects of US monetary policy on stock markets. We find that, on average, a tightening of 50 basis points reduces returns by about 3%. Moreover, returns react more strongly when no change had been expected, when there is a directional change in the monetary policy stance...
Persistent link: https://www.econbiz.de/10009639408
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Exchange rates and fundamentals
Ehrmann, Michael; Fratzscher, Marcel - 2004
This paper analyses the link between economic fundamentals and exchange rates by investigating the importance of real-time data. We find that such economic news in the United States, Germany and the euro area have indeed been a driving force behind daily US dollar – euro/DEM exchange rate...
Persistent link: https://www.econbiz.de/10009639419