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

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

... of deposit facility). Finally, the 18ECB Working Paper Series No. 351 April 2004W ORKING PAPER SERIES NO. 351 / APRIL 2004 INTEREST RATE DETERMINATION IN THE INTERBANK MARKET by Vítor GasparGabriel ... banking in the interbank market. Furfine does not explicitly address the theoretical modelling of bank heterogeneity together with market segmentation. 9ECB Working Paper Series No. 351 April ... publications will carry a motif taken from the €100 banknote. WORKING PAPER SERIES NO. 351 / APRIL 2004 INTEREST RATE DETERMINATION IN THE INTERBANK MARKET 1by Vítor Gaspar2Gabriel Pérez Quirós3andHugo...

Working PaPer SerieS no 1273 / DeCeMBer 2010: intereSt rate effeCtS of DeMograPhiC ChangeS in a neW-keyneSian life-CyCle fraMeWork pptx

... ratio,and the replacement rate. Further examples are the two factor p rices, the in ation rate and the nominal interest rate. Second, exceptions to this pattern are, again in line withTable 5> the ... parameter in debt rule 10=04Smoothing parameter in debt rule 20=3Inertial parameter in interest rate rule l0=7 In ation coe!cient in interest rate rule 1=5Output gap coe!cient in interest ... rios in Section 5.5.1 Endogenous replacem en t rate The likely decline in the long-run real interest rate is particularly pronounced in scenarios in which the replacement rate () declines endogenously...

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

... and US in 2002(weekly 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 areaEventsFra nceUKUSNote: ... markets for euro and US dollar denominated interest rate derivatives are the largestfinancial markets in the world. The euro interest rate swap market has actually roughly the samesize as the ... percent (in 2001 there was a cumulative 125 basispoints cut).18ECB Working Paper Series No. 303February 2004W ORKING PAPER SERIES NO. 303 / FEBRUARY 2004FISCAL POLICYEVENTS AND INTEREST RATE...

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

... conﬁrm that the interest rate, within the sample, is integratedof order one. Furthermore, it is co-integrated with the policy rate, i∗t. Therefore, the interest rates, it,ismodelledinﬁrst diﬀerences, ... but also the expected interest rate is important for the determination of the interbank rate. The expected interest rate depends basically on two factors, the expectedpolicy rate and the expected ... moves the supply curve at the last day of the RMP. Thisimplies that the interbank rate jumps to the marginal lending rate. Since the interest rate ona giv en day is a function of the expected rate...

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

... of whether theymerge or not. With this caveat in mind, the data are indicative of the broad financialfeatures of banks engaged in domestic M&As in Europe.19ECB Working Paper Series No. ... suggesting the usefulness of including these variables in the regression.24ECB Working Paper Series No. 398October 2004specifically, this could indicate banks’ concerns with becoming large ... Financial Economics 31, pp. 135-175.28ECB Working Paper Series No. 398October 2004 In 2004 all publications will carry a motif taken from the €100 banknote.W ORKING PAPER SERIES NO. 398 / OCTOBER...

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

... the following discussion the bank will be referred in the feminine, and the individual agents in the masculinetoeaseidentiﬁcation. The payoﬀs are obtained from an underlying economy. The economy consists ... to oﬀering a single (w, π∗) pair to the agent, a s the agent contemplates18ECB Working Paper Series No. 407November 2004W ORKING PAPER SERIES NO. 407 / NOVEMBER 2004BANKING CONSOLIDATION ... consolidation. The most important theoretical ﬁnding of the paper is that banking corporate governance might24ECB Working Paper Series No. 407November 2004be more important in s mall business lending...

WORKING PAPER SERIES NO 1332 / APRIL 2011: CENTRAL BANK COMMUNICATION ON FINANCIAL STABILITY docx

... 22ECB Working Paper Series No 1332 April 2011emphasis of the paper has been to identify whether financial stability-related communication “creates news” and/or “reduces noise”. The paper s findings ... deviations does not alter our results. This implies that the results are not driven by the initial market reaction on the day of the announcement. 17ECB Working Paper Series No 1332 April 20114.1 ... 2011robust. The interesting insight, though, is that there is a reduction in volatility following FSRs by central banks in advanced countries, whereas the main effects on returns originate in emerging...

Working PaPer SerieS no 967 / november 2008: Central bank miSPerCePtions and the role of money in interest rate rules pptx

... models. In these modelschanges in the nominal interest rate in uence the real interest rate due to the presence of pricerigidities; the real interest rate determines the level of output; and the ... cross-checking is different from another interesting strategy proposed byChristiano and Rostagno (2001) and Christiano et al. (2006) that combines monetary targeting with Taylor-style interest rate ... material for the Council’s discussions on the monetary target for the year to come. Working PaPer SerieS no 967 / november 2008Central bank miSPerCePtionS and the role of money in intereSt rate...

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

... issuing corporate securities, the country where a corporate bond is issued may not coincide with the country where the originator of the securities is incorporated. 10ECB Working Paper Series ... examining these indicators on their own as well as together with the net tightening in the margins on average and riskier loans. The latter significantly help in predicting the annual growth rate ... Sauer (2010), Information from the euro area bank lending survey, ECB Occasional Paper, forthcoming. 18ECB Working Paper Series No 1160February 2010 Working PaPer SerieS no 1160 / FeBrUarY 2010evidence...

WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES docx

... of the long-term market interest rate does not affect the results. The coefficient of the short-term interest rate reported in the tables is similar to the one obtained when the long terms interest ... against interest rate risk (by varying the proportion of fixed -rate versus variable -rate loans, using interest rate swaps). Investigating these strategies is beyond the scope of this paper. rate ... higher since the launch of the euro. The introduction of the euro may have 18ECB Working Paper Series No. 518September 2005 WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005TERM STRUCTURE ANDTHE...

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