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Author : Michael Ehrmann
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.X/5 (4 download)
Download or read book Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area written by Michael Ehrmann and published by . This book was released on 2001 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ignazio Angeloni
Publisher : Cambridge University Press
ISBN 13 : 1139438816
Total Pages : 515 pages
Book Rating : 4.1/5 (394 download)
Download or read book Monetary Policy Transmission in the Euro Area written by Ignazio Angeloni and published by Cambridge University Press. This book was released on 2003-12-04 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2003 book offers the most systematic analysis available of the impact of European Central Bank monetary policy on the national economies of the Eurozone. Analysing macro and micro-economic evidence, with chapters by central bank economists, including a discussion chapter by eminent macroeconomists, it is an essential contribution to research on the subject.
Author : Mr.Ali J Al-Eyd
Publisher : International Monetary Fund
ISBN 13 : 1484365119
Total Pages : 32 pages
Book Rating : 4.4/5 (843 download)
Download or read book Fragmentation and Monetary Policy in the Euro Area written by Mr.Ali J Al-Eyd and published by International Monetary Fund. This book was released on 2013-10-04 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ECB has taken a range of actions to address bank funding problems, eliminate excessive risk in sovereign markets, and safeguard monetary transmission. But euro area financial markets have remained fragmented, driving retail interest rates in stressed markets far above those in the core. This has impeded the flow of credit and undermined the transmission of monetary policy. Analysis presented here indicates that the credit channel of monetary policy has broken down during the crisis, particularly in stressed markets, and that SMEs in these economies appear to be most affected by elevated lending rates.Given these stresses, the ECB can undertake additional targeted policy measures, including through additional term loans, collateral policies, and private asset purchases.
Author : D. Bundesbank
Publisher : Springer
ISBN 13 : 0230595995
Total Pages : 323 pages
Book Rating : 4.2/5 (35 download)
Download or read book The Monetary Transmission Process written by D. Bundesbank and published by Springer. This book was released on 2001-01-29 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: The start of the European monetary union gave additional impetus to the lively debate on the effects of monetary policy and the appropriate strategy for central banks. This book collects papers and comments by leading academics and central bankers such as O.Issing, M.King, B.McCallum, A.Meltzer, L.Svensson and H.Tietmeyer. The volume examines methodological questions, the actual role played by the financial sectors and labour markets in implementing monetary policy in Europe, and the likely future developments in these areas.
Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1484369270
Total Pages : 86 pages
Book Rating : 4.4/5 (843 download)
Download or read book Euro Area Policies written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-07-19 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overall the resilience of large euro area banks has improved, but important vulnerabilities remain. Capital buffers are in aggregate sizeable relative to immediate threats, but some banks are especially vulnerable to credit risk and others to market risks, including a substantial rise in risk premia. The banking system as a whole has ample liquidity, against a backdrop of ECB support. At a structural level, low profitability is found in many banks across all business models, despite improving conjunctural conditions. The interconnectedness analysis shows that strong buffers are effective in dampening both vulnerabilities and onward transmission. Risks to financial stability relate mainly to tighter financial conditions, weaker growth, and policy and geopolitical uncertainties. The withdrawal of the United Kingdom from the EU (Brexit) could potentially disrupt financial market and services, and thus the wider economy. Also, policy reversals could hurt debt sustainability and test the cohesion of policy making in the union.
Author : Andreas Jobst
Publisher : International Monetary Fund
ISBN 13 : 1475524471
Total Pages : 48 pages
Book Rating : 4.4/5 (755 download)
Download or read book Negative Interest Rate Policy (NIRP) written by Andreas Jobst and published by International Monetary Fund. This book was released on 2016-08-10 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than two years ago the European Central Bank (ECB) adopted a negative interest rate policy (NIRP) to achieve its price stability objective. Negative interest rates have so far supported easier financial conditions and contributed to a modest expansion in credit, demonstrating that the zero lower bound is less binding than previously thought. However, interest rate cuts also weigh on bank profitability. Substantial rate cuts may at some point outweigh the benefits from higher asset values and stronger aggregate demand. Further monetary accommodation may need to rely more on credit easing and an expansion of the ECB’s balance sheet rather than substantial additional reductions in the policy rate.
Author : Rishi Goyal
Publisher : International Monetary Fund
ISBN 13 : 1475569823
Total Pages : 31 pages
Book Rating : 4.4/5 (755 download)
Download or read book A Banking Union for the Euro Area written by Rishi Goyal and published by International Monetary Fund. This book was released on 2013-02-12 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.
Author : Ulrich Bindseil
Publisher : Oxford University Press, USA
ISBN 13 : 0198716907
Total Pages : 337 pages
Book Rating : 4.1/5 (987 download)
Download or read book Monetary Policy Operations and the Financial System written by Ulrich Bindseil and published by Oxford University Press, USA. This book was released on 2014 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to the way that central banks implement monetary policy through market operations. It explains monetary policy operations in normal times, reviews the basic mechanics of financial crises, and explains what central banks need to do to fulfil their monetary policy and financial stability mandates when markets and banks are impaired.
Author : Fotini Mastroianni
Publisher : GRIN Verlag
ISBN 13 : 3668439494
Total Pages : 29 pages
Book Rating : 4.6/5 (684 download)
Download or read book Monetary Policy. The Role of the European Central Bank written by Fotini Mastroianni and published by GRIN Verlag. This book was released on 2017-05-02 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2016 in the subject Economics - Finance, , language: English, abstract: The aim of the present paper is to present the monetary policy of the ECB and record the changes in this policy caused by the recent economic crisis from 2007 onwards. Monetary policy is the process by which the monetary authority of an economic area checks the quantity and the cost of money in the economy. The official goals of monetary policy are the control of inflation, the growth of the economy, the reduction of unemployment and the control of the exchange rate in relation to foreign currencies. Monetary policy may be expansive, namely to increase the amount of money in the market by encouraging economic development, but causing an increase in inflation, or it can be limiting, i.e. to reduce the amount of money in the market by keeping inflation low. In the Euro Zone, monetary policy is pursued by the European Central Bank (ECB), which was created with the birth of the euro, when it took over the responsibility for the design and practice of monetary policy by the central banks of the Eurozone countries and operates as an independent, supranational but European organization.
Author : D.E. Fair
Publisher : Springer Science & Business Media
ISBN 13 : 9401117411
Total Pages : 430 pages
Book Rating : 4.4/5 (11 download)
Download or read book The New Europe: Evolving Economic and Financial Systems in East and West written by D.E. Fair and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers collected in this volume are those presented at the seventeenth Collo quium arranged by the Societe Universitaire Europeenne de Recherches Financieres (SUERF), which took place in Berlin in October 1992. The Society is supported by a large number of central banks and commercial banks, by other fmancial and business institutions and by personal subscriptions from academics and others interested in monetary and fmancial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloqu~ for which volumes of the collected papers were published are noted on the last page of this volume.
Author : Mr.Giovanni Dell'Ariccia
Publisher : International Monetary Fund
ISBN 13 : 1484381130
Total Pages : 41 pages
Book Rating : 4.4/5 (843 download)
Download or read book Bank Leverage and Monetary Policy's Risk-Taking Channel written by Mr.Giovanni Dell'Ariccia and published by International Monetary Fund. This book was released on 2013-06-06 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank’s loan portfolio) is negatively associated with increases in short-term policy interest rates. This relationship is less pronounced for banks with relatively low capital or during periods when banks’ capital erodes, such as episodes of financial and economic distress. These results contribute to the ongoing debate on the role of monetary policy in financial stability and suggest that monetary policy has a bearing on the riskiness of banks and financial stability more generally.
Author : Maximilian Fandl
Publisher : Springer
ISBN 13 : 3319726439
Total Pages : 179 pages
Book Rating : 4.3/5 (197 download)
Download or read book Monetary and Financial Policy in the Euro Area written by Maximilian Fandl and published by Springer. This book was released on 2018-05-31 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook provides a comprehensive overview of monetary policy, banking supervision and financial stability in the euro area. The author uses his professional experience in central banking to provide a thorough understanding of European economics and to explore how the monetary and financial system functions. The book takes into account the profound changes that resulted from crisis developments in recent years, such as the implementation of quantitative easing or the establishment of the Single Supervisory Mechanism (SSM). The author also invites readers to develop their thoughts on alternative policies to shape the monetary and financial system of the future. The textbook is tailor-made for intermediate courses in economics but will also appeal to those preparing a career in central banking or financial regulation.
Author : Vitor Gaspar
Publisher :
ISBN 13 : 9789291813483
Total Pages : 334 pages
Book Rating : 4.8/5 (134 download)
Download or read book The Transformation of the European Financial System written by Vitor Gaspar and published by . This book was released on 2003-01-01 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Schuck
Publisher : GRIN Verlag
ISBN 13 : 3668011516
Total Pages : 88 pages
Book Rating : 4.6/5 (68 download)
Download or read book The Monetary Policy of Central Banks before and during the Crisis written by Daniel Schuck and published by GRIN Verlag. This book was released on 2015-07-06 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2014 in the subject Economics - International Economic Relations, grade: 1,2, University of Applied Sciences Saarbrücken (Faculty of Business and Economics), language: English, abstract: The Federal Reserve System and the European Central Bank were both forced to implement unconventional monetary policy measures as a response to the severe impact of the global financial crisis and its aftermath. In the first stage of the global financial crisis, the conventional and unconventional monetary policy measures implemented by the Federal Reserve System and the European Central Bank were fairly similar. Both central banks focused on providing the banking sector with liquidity in order to restore interbank lending as it was a key element of ensuring a functional monetary transmission mechanism. However, when the global financial crisis transformed to a sovereign debt crisis in the euro area in 2010, the European Central Bank faced increasing divergence in sovereign spreads and the potential insolvency of euro area Member States. Therefore, its unconventional monetary policy measures focused on credit easing by purchasing sovereign as well as covered bonds in order to improve banks’ and governments’ funding costs. By contrast, the Federal Reserve System massively purchased government bonds and focused on decreasing interest rates and asset prices through the use of quantitative easing.
Author : Lars Jonung
Publisher : Routledge
ISBN 13 : 1135354987
Total Pages : 463 pages
Book Rating : 4.1/5 (353 download)
Download or read book Building the Financial Foundations of the Euro written by Lars Jonung and published by Routledge. This book was released on 2009-12-16 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 2008. Routledge is an imprint of Taylor & Francis, an informa company.
Author : International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
ISBN 13 : 1451922140
Total Pages : 60 pages
Book Rating : 4.4/5 (519 download)
Download or read book Finance & Development, March 2012 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2012-03-14 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Young people, hardest hit by the global economic downturn, are speaking out and demanding change. F&D looks at the need to urgently address the challenges facing youth and create opportunities for them. Harvard professor David Bloom lays out the scope of the problem and emphasizes the importance of listening to young people in "Youth in the Balance." "Making the Grade" looks at how to teach today's young people what they need to get jobs. IMF Deputy Managing Director, Nemat Shafik shares her take on the social and economic consequences of youth unemployment in our "Straight Talk" column. "Scarred Generation" looks at the effects the global economic crisis had on young workers in advanced economies, and we hear directly from young people across the globe in "Voices of Youth." Renminbi's rise, financial system regulation, and boosting GDP by empowering women. Also in the magazine, we examine the rise of the Chinese currency, look at the role of the credit rating agencies, discuss how to boost the empowerment of women, and present our primer on macroprudential regulation, seen as increasingly important to financial stability. People in economics - C. Fred Bergsten, American Globalist. Back to basics - The multi-dimensional role of banks in our financial systems.
Author : Franklin Allen
Publisher : CEPR
ISBN 13 : 1907142363
Total Pages : 117 pages
Book Rating : 4.9/5 (71 download)
Download or read book Cross-border Banking in Europe written by Franklin Allen and published by CEPR. This book was released on 2011 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report argues that policy reforms in micro- and macro-prudential regulation and macroeconomic policies are needed for Europe to reap the important diversification and efficiency benefits from cross-border banking, while reducing the risks stemming from large cross-border banks.Available online as pdf at: http: //www.cepr.org/pubs/books/CEPR/cross-border_banking.pd
