WORKING PAPER SERIES NO 303 / FEBRUARY 2004: FISCAL POLICY EVENTS AND INTEREST RATE SWAP SPREADS: EVIDENCE FROM THE EU pdf

WORKING PAPER SERIES NO. 303 / FEBRUARY 2004: FISCAL POLICY EVENTS AND INTEREST RATE SWAP SPREADS: EVIDENCE FROM THE EU pdf

... data)0.51.01.52.02.53.00 1/1 10 2/0 10 2/2 20 3/1 50 4/0 50 4/2 60 5/1 70 6/0 70 6/2 80 7/1 90 8/0 90 8/3 00 9/2 01 0/1 01 1/0 11 1/2 21 2/1 3(%)euro area Events Fra nceUKUSNote: Expectations from break-even inflation rate = ... 2001 there was a cumulative 125 basispoints cut).18ECB Working Paper Series No. 303 February 2004W ORKING PAPER SERIES NO. 303 / FEBRUARY 2004 FISCAL POLICY EVENTS AND INTEREST RATE SWAP SPREADS: EVIDENCE FROM ... Reuters.Figure 4. Long-term interest rate swap spreads, Portugal and Germany, 2002(weekly data)-20-100102030400 4/0 10 4/0 20 4/0 30 4/0 40 4/0 50 4/0 60 4/0 70 4/0 80 4/0 90 4/1 00 4/1 10 4/1 2 Swap spread (bp)PortugalGer...

WORKING PAPER SERIES NO. 398 / OCTOBER 2004: MERGERS AND ACQUISITIONS AND BANK PERFORMANCE IN EUROPE THE ROLE OF STRATEGIC SIMILARITIES potx

... (2002).12ECB Working Paper Series No. 398October 2004(where SIni is the similarity index for the nth variable for the ith merger, and XBni and XTniare the scores of the target (Tn) and the ... motif taken from the €100 banknote.W ORKING PAPER SERIES NO. 398 / OCTOBER 2004MERGERS AND ACQUISITIONS AND BANK PERFORMANCE IN EUROPE THE ROLE OF STRATEGIC SIMILARITIES12 and David Marqués ... (seeCabral, Dierick and Vesala, 2002). The results from the technology and innovation strategy suggest that the differentiation interms of financial innovation investments among bidders and targets...

WORKING PAPER SERIES NO. 407 / NOVEMBER 2004: BANKING CONSOLIDATION AND SMALL BUSINESS LENDING potx

... incentives to the agent to comply with the 11ECB Working Paper Series No. 407November 20043Solvingthemodel The bank designs the contract so that the agent accepts it, and later in his role as the creditoﬃcer ... ¯u − qBµH28ECB Working Paper Series No. 407November 2004In 2004 all publications will carry a motif taken from the €100 banknote.W ORKING PAPER SERIES NO. 407 / NOVEMBER 2004BANKING ... cumbersome.20ECB Working Paper Series No. 407November 2004 The proﬁt level of the decentralized bank exceeds that of the centralized bank if the supervision cost W/L is suﬃciently lo w or the eﬃciency gain from...

WORKING PAPER SERIES NO 868 / FEBRUARY 2008: PURDAH ON THE RATIONALE FOR CENTRAL BANK SILENCE AROUND POLICY MEETINGS pptx

... http :// en.wikipedia.org/wiki/Purdah. Woodford, M. (2005). Central-Bank Communication and Policy Effectiveness. NBER Working Paper No. 11898, December 2005. 18ECB Working Paper Series No 868 February ... be that in the old days reporters were not very knowledgeable, many of the current breed have MAs and PhDs in economics.” WORKING PAPER SERIES NO 868 /FEBRUARY2 008PURDAHON THE RATIONALE ... Ehrmann and Marcel Fratzscher 2This paper can be downloaded without charge from http :// www.ecb.europa .eu or from the Social Science Research Networkelectronic library at http :// ssrn.com/abstract_id=1090543.1...

Working PaPer SerieS no 1160 / FeBrUarY 2010: evidence For SUrveY maTTerS The eUro area Bank lending emPirical crediT and oUTPUT groWTh pptx

... GDP growth 28ECB Working Paper Series No 1160 February 2010 WORKING PAPER SERIES This paper can be downloaded without charge from http :// www.ecb.europa .eu or from the Social Science Research ... 18ECB Working Paper Series No 1160 February 2010 Working PaPer SerieS no 1160 / FeBrUarY 2010 evidence For by Gabe de Bondt, José-Luis Peydró and Silvia ScopelSUrveY maTTerS The eUro area ... channels, like the interest rate, the bank lending, the balance sheet and the risk-taking channel in the euro area. This finding implies that not only changes in the official interest rate and in loan...

WORKING PAPER SERIES NO. 351 / APRIL 2004: INTEREST RATE DETERMINATION IN THE INTERBANK MARKET pot

... period. 28ECB Working Paper Series No. 351April 2004In 2004 all publications will carry a motif taken from the €100 banknote. WORKING PAPER SERIES NO. 351 / APRIL 2004 INTEREST RATE DETERMINATION ... of the standing facilities is exogenous and, therefore, independent of the size of the market groups. We see that the recourse to the standing facilities is both more likely and larger on the ... volatility we use the standard deviation of rates where each of the rates obtained by a bank is weighted by the amount transacted on the day. 26ECB Working Paper Series No. 351April 2004 The first...

WORKING PAPER SERIES NO. 393 / SEPTEMBER 2004: THE DETERMINANTS OF THE OVERNIGHT INTEREST RATE IN THE EURO AREA doc

... at 2 1/6 /2 000, 3 0/4 /2 001, 12 and 1 3/9 /2 001, 2 8/1 1/2 001, 4 and 1 0/1 /2 002, 1 8/1 2/2 002 and 2 3/0 5/2 003. Long term re ﬁnancing op erationsare structural measures and usually constant throughout the ... does not lead to a straightforward con-18ECB Working Paper Series No. 393September 2004W ORKING PAPER SERIES NO. 393 / SEPTEMBER 2004 THE DETERMINANTSOF THE OVERNIGHT INTEREST RATE IN THE EURO ... the expected rate and therefore also the current interbank rate, but the amount of the increasedepends on both the size of underbidding and the slope of the demand curve. There isthen an equilibrium...

WORKING PAPER SERIES NO 845 / DECEMBER 2007: RUN-PRONE BANKING AND ASSET MARKETS doc

... charge from http :// www.ecb.europa .eu or from the Social Science Research Networkelectronic library at http :// ssrn.com/abstract_id=1054981.1 I am grateful for comments and advice from Bruno Biais, ... support from the Center for AnalyticEconomics at Cornell University and the Thorne Fund is gratefully acknowledged. The viewsexpressed in this paper do not necessarily reﬂ ect those of the European ... %&    !  WORKING PAPER SERIES NO 845 / DECEMBER 2007RUN-PRONE BANKING AND ASSET MARKETSby Marie Hoerova19ECB Working Paper Series No 845December 2007+74 >?C8<0;...

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WORKING PAPER SERIES NO 898 / MAY 2008: CENTRAL BANK COMMUNICATION AND MONETARY POLICY A SURVEY OF THEORY AND EVIDENCE doc

... charge from http :// www.ecb.europa .eu or from the Social Science Research Networkelectronic library at http :// ssrn.com/abstract_id=11207641 This paper is forthcoming in the Journal of Economic ... the public develops a genuine understanding of the way the central bank thinks WORKING PAPER SERIES NO 898 / MAY 2008In 2008 all ECB publications feature a motif taken from the 10 banknote.CENTRAL ... 22 The central banks of the Czech Republic, Japan, New Zealand, Norway, Poland, Sweden, and Switzerland also hold regular press conferences. 23ECB Working Paper Series No 898May 2008there...

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Working PaPer SerieS no 1150 / January 2010: Do bank loanS anD creDit StanDarDS have an effect on outPut? a Panel aPProach for the euro area doc

... Bank.Information on all of the working papers published in the ECB’s Working Paper Series can be found on the ECB’s website, http :// www.ecb.europa .eu/ pub/scientiﬁ c/wps/date/html/index.en.htmlISSN ... 2010 WORKING PAPER SERIES NO 1150 / JANUARY 2010This paper can be downloaded without charge from http :// www.ecb.europa .eu or from the Social Science Research Networkelectronic library at http :// ssrn.com/abstract_id=1535995.In ... supply.Similarly, the loan demand depends on real income and the interest rate on bonds,which corporations can issue to …nance their activities, and inversely on interest rateson loans. Therefore the demand...

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