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  • Search: subject_exact:"Unconventional monetary policy"
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Year of publication
Subject
All
Geldpolitik 720 Monetary policy 719 unconventional monetary policy 545 Wirkungsanalyse 459 Impact assessment 454 Quantitative easing 429 Quantitative Lockerung 421 Unconventional monetary policy 383 Eurozone 211 Euro area 210 Zentralbank 189 Central bank 187 EU countries 178 EU-Staaten 178 Geldpolitische Transmission 163 Monetary transmission 158 Financial crisis 145 Öffentliche Anleihe 144 Finanzkrise 143 Public bond 142 VAR-Modell 142 VAR model 140 Zinsstruktur 126 Yield curve 125 Low-interest-rate policy 117 Niedrigzinspolitik 117 Unconventional Monetary Policy 117 Ankündigungseffekt 101 Announcement effect 100 Theorie 99 Japan 98 Theory 97 Interest rate policy 94 Zinspolitik 94 Schock 92 Shock 90 quantitative easing 85 Schätzung 83 Estimation 81 United States 67
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Online availability
All
Free 658 Undetermined 334 CC license 17
Type of publication
All
Book / Working Paper 604 Article 437 Other 13
Type of publication (narrower categories)
All
Working Paper 474 Article in journal 372 Aufsatz in Zeitschrift 372 Graue Literatur 348 Non-commercial literature 348 Arbeitspapier 332 Article 28 Hochschulschrift 8 Aufsatz im Buch 5 Aufsatzsammlung 5 Book section 5 Collection of articles of several authors 4 Conference paper 4 Konferenzbeitrag 4 Sammelwerk 4 Konferenzschrift 3 Collection of articles written by one author 2 Conference proceedings 2 Preprint 2 Research Report 2 Sammlung 2 Thesis 2 Advisory report 1 Amtsdruckschrift 1 Conference Paper 1 Government document 1 Gutachten 1 Proceedings 1
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Language
All
English 914 Undetermined 125 German 7 Spanish 3 French 2 Czech 1 Croatian 1 Slovak 1
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Author
All
Peersman, Gert 23 Boeckx, Jef 16 Christensen, Jens H. E. 16 Hülsewig, Oliver 15 Afonso, António 14 Krogstrup, Signe 13 Zhang, Xin 11 Hofmann, Boris 10 Neuenkirch, Matthias 10 Tillmann, Peter 10 Altavilla, Carlo 9 Dossche, Maarten 9 García-Posada, Miguel 9 Giannone, Domenico 9 Krippner, Leo 9 Meinusch, Annette 9 Belke, Ansgar 8 Feldkircher, Martin 8 Gilchrist, Simon 8 Guidolin, Massimo 8 Huber, Florian 8 Papadamou, Stephanos 8 Pelizzon, Loriana 8 Rottmann, Horst 8 Bittner, Christian 7 Hayo, Bernd 7 Kiss, Gábor Dávid 7 Pedio, Manuela 7 Popov, Alexander 7 Schanz, Jochen 7 Scharler, Johann 7 Zhu, Feng 7 Caballero, Diego 6 Dreger, Christian 6 Galesi, Alessandro 6 Haan, Jakob de 6 Hubert, Paul 6 Kettemann, Andreas 6 Lucas, André 6 López-Salido, José David 6
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Institution
All
Bank for International Settlements (BIS) 7 C.E.P.R. Discussion Papers 7 International Monetary Fund (IMF) 7 Federal Reserve Board (Board of Governors of the Federal Reserve System) 5 Reserve Bank of Australia 5 Banque de France 4 Institute for Monetary and Economic Studies, Bank of Japan 4 CESifo 3 European Central Bank 3 Faculteit Economie en Bedrijfskunde, Universiteit Gent 3 SUERF - The European Money and Finance Forum 3 Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München 3 Banca d'Italia 2 Financialisation, Economy, Society & Sustainable Development (FESSUD) Project 2 Narodowy Bank Polski 2 Nationale Bank van België/Banque national de Belqique (BNB) 2 School of Finance, Universität St. Gallen 2 Volkswirtschaft Abteilung, Fachbereich Wirtschaftswissenschaften 2 de Nederlandsche Bank 2 Agricultural and Applied Economics Association - AAEA 1 Asian Development Bank Institute, Asian Development Bank 1 Banco de España 1 Bureau d'Économie Théorique et Appliquée (BETA), Université de Strasbourg 1 Centre d'études prospectives et d'informations internationales (CEPII) 1 Centre de recherche en Économie (OFCE), Sciences économiques 1 Conference Monetary Policy after the Crisis <2011, Warschau> 1 Conference on Asset-Liability Management with Ultra-Low Interest Rates <2015, Wien> 1 Crawford School of Public Policy, Australian National University 1 DIW Berlin (Deutsches Institut für Wirtschaftsforschung) 1 Departamento de Economía, Pontificia Universidad Católica del Perú 1 Department of Economics, Sciences économiques 1 Department of Economics, University of Kansas 1 Deutsche Bundesbank 1 Dipartimento di Economia e Finanza (DEF), Libera Università Internazionale degli Studi Sociali Guido Carli (LUISS) 1 Dipartimento di Economia, Università Ca' Foscari Venezia 1 Fach Volkswirtschaftslehre, Universität Trier 1 Federal Reserve Bank of Kansas City 1 Federal Reserve Bank of New York 1 Friedrich-Schiller-University Jena 1 HAL 1
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Published in...
All
ECB Working Paper 26 Journal of international money and finance 25 Working paper series / European Central Bank 24 Discussion paper 17 Working papers / Bank for International Settlements 16 CESifo Working Paper 14 CESifo working papers 14 Economic modelling 14 Journal of banking & finance 14 Applied economics 12 Journal of macroeconomics 12 Working Paper 12 Discussion papers / CEPR 11 Journal of economic dynamics & control 11 Temi di discussione / Banca d'Italia 11 Journal of monetary economics 9 Applied economics letters 8 Documentos de trabajo / Banco de España 8 Finance and economics discussion series 8 Working paper 8 BIS Working Papers 7 CAMA working paper series 7 CEPR Discussion Papers 7 Deutsche Bundesbank Discussion Paper 7 European economic review : EER 7 International review of financial analysis 7 Joint discussion paper series in economics : publ. by the Universities of Aachen, Gießen, Göttingen, Kassel, Marburg, Siegen 7 MAGKS Joint Discussion Paper Series in Economics 7 SAFE working paper 7 Staff working papers / Bank of England 7 Bank of Japan working paper series 6 Bundesbank Discussion Paper 6 IMF Working Papers 6 Journal of Risk and Financial Management 6 Journal of risk and financial management : JRFM 6 Journal of the Japanese and international economies : an international journal ; JJIE 6 Open economies review 6 Sveriges Riksbank Working Paper Series 6 Sveriges Riksbank working paper series 6 The European journal of finance 6
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Source
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ECONIS (ZBW) 732 EconStor 176 RePEc 132 BASE 14
Showing 1 - 50 of 1,054
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Macroeconomic effects of monetary policy in Japan : an analysis using interest rate futures surprises
Kubota, Hiroyuki; Shintani, Mototsugu - In: Empirical economics : a quarterly journal of the … 68 (2025) 2, pp. 783-801
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015193877
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Monetary policy along the yield curve : why can central banks affect long-term real rates?
Beaudry, Paul; Cavallino, Paolo; Willems, Tim - 2025
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015330892
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The ECB's pandemic emergency purchase programme and fiscal policy : synergies or conflict?
Afonso, António; Ferreira, Jorge Braga - 2025
We assess how countries’ fiscal policies during COVID-19 pandemic influenced the effects of the Pandemic Emergency Purchase Programme (PEPP) on sovereign bond Option-Adjusted Spreads. Using a cross-sectional regression model with country and time-fixed effects, we analyse a sample of 1,368...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015397021
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Monetary policy along the yield curve : why can central banks affect long-term real rates?
Beaudry, Paul; Cavallino, Paolo; Willems, Tim - 2025 - This version: April 2025
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015398244
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Short-run and long-run consequences of unconventional monetary policy in Japan
Fukuda, Shin'ichi - 2025
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015202488
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Central banks fuelling inequality : a comparative case study of Japan's unconventional monetary policy 1999-2006
Uhl, Moritz - 2025
Reoccurring instability keeps forcing central banks repeatedly to intervene in financial markets, since the 2007-2008 crisis most notably with massive asset purchases, whose popularisation was spearheaded by the Bank of Japan. This paper exploits the world's first implementation of quantitative...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015395750
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TLTRO III and banks' loan book rebalancing during the pandemic : less "targeted" than intended forsome?
Corte Coi, Claudio; Dadoukis, Aristeidis; Hempell, Hannah S. - 2025
Targeted longer-term refinancing operations (TLTROs) helped supporting bank lending to firms and to households in the course of the COVID-19 pandemic. The use of TLTRO funding for mortgage loans to households had explicitly not been included into the targeted loan categories of these schemes,...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015339713
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Monetary policy and bank-type resilience in Germany from 1999 to 2022
Sepp, Tim Florian; Israel, Karl-Friedrich; Treitz, Benjamin - 2024
This paper examines the heterogeneous effects of the ECB's monetary policies on the resilience of the German banking system between 1999 to 2022. We distinguish between the main bank types in Germany: Large Banks, Regional Banks, Sparkassen, Landesbanken and Credit Unions. We proxy bank-type...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014515209
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Mixing QE and interest rate policies at the effective lower bound: Micro evidence from the euro area
Bittner, Christian; Rodnyansky, Alexander; Saidi, Farzad; … - 2024
We study the interaction of expansionary rate-based monetary policy and quantitative easing, despite their concurrent implementation, by exploiting heterogeneous banks and the introduction of negative monetary-policy rates in a fragmented euro area. Quantitative easing increases credit supply...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014525230
Saved in:
Cover Image
Central bank asset purchases and auction cycles revisited: New evidence from the euro area
Ferrara, Federico M. - 2024
This study provides new evidence on the relationship between unconventional monetary policy and auction cycles in the euro area. Using proprietary data on purchases of public sector securities implemented by the Eurosystem, the paper examines the flow effects of asset purchase programmes on...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014543595
Saved in:
Cover Image
Quantitative easing, bond risk premia and the exchange rate in a small open economy
Christensen, Jens H. E.; Zhang, Xin - 2024
We assess the impact of large-scale asset purchases, commonly known as quantitative easing (QE), conducted by Sveriges Riksbank and the European Central Bank (ECB) on bond risk premia in the Swedish government bond market. Using a novel arbitrage-free dynamic term structure model of nominal and...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014563955
Saved in:
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Bank's Risk-Taking Channel of Monetary Policy and TLTRO: Evidence from the Eurozone
Afonso, António; Ferreira, Jorge Braga - 2024
Using a panel data approach with bank-fixed effects, we study the impact of Targeted Longer-Term Refinancing Operations (TLTRO) on banks' risk, given by their distance to default (DtD). The study aims to determine if the liquidity from TLTROs influences banks' risk-taking behaviour. For the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014574301
Saved in:
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Quantitative easing and inequality
Lee, Donggyu - 2024
This paper studies how quantitative easing (QE) affects household welfare across the wealth distribution. I build a Heterogeneous Agent New Keynesian (HANK) model with household portfolio choice, wage and price rigidities, endogenous unemployment, frictional financial intermediation, an...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014581825
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Back to normal? Assessing the effects oftThe Federal Reserve's Quantitative Tightening
Casalena, Francesco - 2024
We study the effects of the Federal Reserve's two Quantitative Tightening (QT) programmes implemented over the last decade. We use a high frequency identification strategy to distinguish between conventional monetary policy shocks, Treasury borrowing announcement shocks and the unwinding of the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015046569
Saved in:
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The outside option channel of central bank asset purchase programs: A tale of two crises
Lee, Changhyun - 2024
I suggest a new channel through which central bank asset purchase programs could have effects on asset prices: The outside option channel. After the global financial crisis, central banks have widened the variety of assets they can purchase. Secondary markets for the majority of the newly...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015096910
Saved in:
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Quantitative easing and the supply of safe assets: Evidence from international bond safety premia
Christensen, Jens H. E.; Mirkov, Nikola; Zhang, Xin - 2024
Through large-scale asset purchases, widely known as quantitative easing (QE), central banks around the world have affected the supply of safe assets by buying quasi-safe bonds in exchange for truly safe reserves. We examine the pricing effects of the European Central Bank's bond purchases in...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015096965
Saved in:
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Take it and leave it: Banks' balance sheet optimization and targeted longer-term refinancing operations
Sigmund, Michael; Wächtler, Johannes; Schuster, Philip; … - 2024
We develop and solve a dynamic optimization model of a bank's balance sheet, highlighting the critical factors influencing banks' optimization dynamics: balance sheet adjustment costs and the spreads between bank-specific lending and deposit rates and the interbank rate. We apply the model to...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015063435
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International spillovers of conventional versus new monetary policy
Hashmi, Aamir Rafique; Nsafoah, Dennis - In: Economic modelling 139 (2024), pp. 1-18
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015189599
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Monetary policy interactions : the policy rate, asset purchases and optimal policy with an interest rate peg
Gödl-Hanisch, Isabel; Mau, Ronald; Rawls, Jonathan - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015206999
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Replication report : did unconventional interventions unfreeze the credit market?
Coppo, Mattia; Luo, Shijia; Vázquez, Francisco - 2024
Tong and Wei (2020) study the impact of unconventional monetary interventions on credit markets during the 2008 global financial crisis. They find that stock prices increase on intervention days, particularly for firms operating in sectors perceived to be more reliant on external funding....
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015145602
Saved in:
Cover Image
Quantitative easing and inequality
Lee, Donggyu - 2024
This paper studies how quantitative easing (QE) affects household welfare across the wealth distribution. I build a Heterogeneous Agent New Keynesian (HANK) model with household portfolio choice, wage and price rigidities, endogenous unemployment, frictional financial intermediation, an...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014577973
Saved in:
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Impact of the fund-provisioning measure to stimulate bank lending in Japan
Hirata, Atsuki; Ito, Yuichiro; Kasai, Yoshiyasu - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015185173
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Japan's Unconventional Monetary Policy and the Exchange Rate Dynamics
Hogen, Yoshihiko; Kishi, Naoya - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015185097
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Asset purchases in a monetary union with default and liquidity risks
Bi, Huixin; Foerster, Andrew; Traum, Nora - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015199426
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The bank of Japan's large-scale government bond purchases and the formation of long-term interest rates
Nakazawa, Takashi; Osada, Mitsuhiro - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015078170
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Interest rates, profitability and risk : evidence from local Italian banks over the years 2006-2018
Cocozza, Rosa; Curcio, Domenico; Gianfrancesco, Igor; … - In: Risk management magazine 19 (2024) 2, pp. 22-41
This paper studies the determinants of net interest margin and of the exposure to the interest rate risk of a sample of 125 local Italian banks during the period 2006-2018. Relative to prior literature, to take advantage of the unprecedented interest rate environment determined by European...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015371419
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What does the yield curve control policy do?
Shiratsuka, Shigenori - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014479707
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Heterogeneous macro and financial effects of ECB asset purchase programs
Zwan, Terri van der; Kole, Erik; Wel, Michel van der - In: Journal of international money and finance 143 (2024), pp. 1-17
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014551359
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Cover Image
Mixing QE and interest rate policies at the effective lower bound : micro evidence from the euro area
Bittner, Christian; Rodnyansky, Alexander; Saidi, Farzad; … - 2024
We study the interaction of expansionary rate-based monetary policy and quantitative easing, despite their concurrent implementation, by exploiting heterogeneous banks and the introduction of negative monetary-policy rates in a fragmented euro area. Quantitative easing increases credit supply...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014520834
Saved in:
Cover Image
Central bank asset purchases and auction cycles revisited : new evidence from the euro area
Ferrara, Federico M. - 2024
This study provides new evidence on the relationship between unconventional monetary policy and auction cycles in the euro area. Using proprietary data on purchases of public sector securities implemented by the Eurosystem, the paper examines the flow effects of asset purchase programmes on...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014527031
Saved in:
Cover Image
Monetary policy and bank-type resilience in Germany from 1999 to 2022
Sepp, Tim Florian; Israel, Karl-Friedrich; Treitz, Benjamin - 2024
This paper examines the heterogeneous effects of the ECB's monetary policies on the resilience of the German banking system between 1999 to 2022. We distinguish between the main bank types in Germany: Large Banks, Regional Banks, Sparkassen, Landesbanken and Credit Unions. We proxy bank-type...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014512814
Saved in:
Cover Image
Quantitative easing, bond risk premia and the exchange rate in a small open economy
Christensen, Jens H. E.; Zhang, Xin - 2024
We assess the impact of large-scale asset purchases, commonly known as quantitative easing (QE), conducted by Sveriges Riksbank and the European Central Bank (ECB) on bond risk premia in the Swedish government bond market. Using a novel arbitrage-free dynamic term structure model of nominal and...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014517711
Saved in:
Cover Image
Bank's risk-taking channel of monetary policy and TLTRO : evidence from the eurozone
Afonso, António; Ferreira, Jorge Braga - 2024
Using a panel data approach with bank-fixed effects, we study the impact of Targeted Longer-Term Refinancing Operations (TLTRO) on banks’ risk, given by their distance to default (DtD). The study aims to determine if the liquidity from TLTROs influences banks’ risk-taking behaviour. For the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014533785
Saved in:
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Counterfactual simulation of the effect of large-scale monetary easing on Japan's financial system
Abe, Nobuhiro; Hirakata, Naohisa; Ishikuro, Yuto; … - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015052719
Saved in:
Cover Image
Take it and leave it : banks' balance sheet optimization and targeted longer-term refinancing operations
Sigmund, Michael; Wächtler, Johannes; Schuster, Philip; … - 2024
We develop and solve a dynamic optimization model of a bank's balance sheet, highlighting the critical factors influencing banks' optimization dynamics: balance sheet adjustment costs and the spreads between bank-specific lending and deposit rates and the interbank rate. We apply the model to...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015053519
Saved in:
Cover Image
What did the yield curve control policy do?
Shiratsuka, Shigenori - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015055278
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The effects of the ECB’S unconventional monetary policies from 2011 to 2018 on banking assets
Dwyer, Gerald P. <jun.>; Gilevska, Biljana; Nieto, María J. - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014583324
Saved in:
Cover Image
Back to normal? : assessing the effects oftThe Federal Reserve's Quantitative Tightening
Casalena, Francesco - 2024 - This version: June 2024
We study the effects of the Federal Reserve's two Quantitative Tightening (QT) programmes implemented over the last decade. We use a high frequency identification strategy to distinguish between conventional monetary policy shocks, Treasury borrowing announcement shocks and the unwinding of the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014633721
Saved in:
Cover Image
The outside option channel of central bank asset purchase programs : a tale of two crises
Lee, Changhyun - 2024
I suggest a new channel through which central bank asset purchase programs could have effects on asset prices: The outside option channel. After the global financial crisis, central banks have widened the variety of assets they can purchase. Secondary markets for the majority of the newly...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015069555
Saved in:
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REIT equity financing and capital investment in the presence of the central bank put
Hattori, Takahiro; Yoshida, Jiro - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015125324
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Central bank balance sheets and long-term interest rates : revisiting Japan's unconventional monetary policy experience
Nakajima, Jouchi - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015110356
Saved in:
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Quantitative easing and the supply of safe assets : evidence from international bond safety premia
Christensen, Jens H. E.; Mirkov, Nikola; Zhang, Xin - 2024
Through large-scale asset purchases, widely known as quantitative easing (QE), central banks around the world have affected the supply of safe assets by buying quasi-safe bonds in exchange for truly safe reserves. We examine the pricing effects of the European Central Bank's bond purchases in...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015062504
Saved in:
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Forging monetary unification through novation : the TARGET system and the politics of central banking in Europe
Murau, Steffen; Giordano, Matteo - In: Socio-economic review 22 (2024) 3, pp. 1283-1312
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015046267
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Sovereign spread divergence owing to inflation and redenomination risk countered by unconventional monetary policy in the Eurozone
Kiss, Gábor Dávid; Alipanah, Sabri - In: Economic modelling 131 (2024), pp. 1-10
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014451202
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Has the reaction function of the European Central Bank changed over time?
Tatar, Balint - 2023
I have assessed changes in the monetary policy stance in the euro area since its inception by applying a Bayesian time-varying parameter framework in conjunction with the Hamiltonian Monte Carlo algorithm. I find that the estimated policy response has varied considerably over time. Most of the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014282694
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Monetary Policy Interactions: The Policy Rate, Asset Purchases, and Optimal Policy with an Interest Rate Peg
Gödl-Hanisch, Isabel; Mau, Ronald; Rawls, Jonathan - 2023
We study monetary policy in a New Keynesian model with a variable credit spread and scope for central bank asset purchases to matter. A novel financial and labor market interaction generates an endogenous cost-push channel in the Phillips curve and a credit wedge in the IS curve. The "divine...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014290309
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Monetary policy transmission below zero
Fungáécová, Zuzana; Kerola, Eeva; Laine, Olli-Matti - 2023
This study considers the pass-through of different ECB monetary policy measures to bank corporate lending rates of different maturities during 2010-2020. We find changes in the pass-through as policy rates first dip below zero in 2014 and again when negative interest rates become more persistent...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014309922
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On the empirical relevance of the exchange rate as a shock absorber at the zero lower bound
Finck, David; Hoffmann, Mathias; Hürtgen, Patrick - 2023
We estimate the effects of a negative asymmetric demand shock on the real exchange rate for the euro area vis-à-vis the United States, Canada, and Japan by state-dependent sign-restricted local projection methods. We find a real depreciation when interest rates are not at the ZLB, but also when...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014320844
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Using functional shocks to assess conventional and unconventional monetary policy in Canada
Koeppl, Thorsten V.; Kronick, Jeremy M.; McNeil, James - 2023
We develop a new series of Canadian monetary policy shocks and analyze their impact on inflation and real GDP from 1996-2020. Our shocks are constructed as the daily change in the Nelson-Siegel yield curve factors after a monetary policy announcement. Because these shocks include information...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014451102
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Differential effects of unconventional monetary policy
Eiblmeier, Sebastian - 2023
Did the Eurosystem's quantitative easing from 2015 to 2018 have differential effects regarding the bank lending volume to different institutional sectors, industry sectors, or types of loans? To investigate this question, this paper employs linked microdata of the German banking system. These...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014471685
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