WORKING PAPER SERIES NO 546 / NOVEMBER 2005: THE NATURAL REAL INTEREST RATE AND THE OUTPUT GAP IN THE EURO AREA A JOINT ESTIMATION doc
WORKING PAPER SERIES NO. 546 / NOVEMBER 2005: THE NATURAL REAL INTEREST RATE AND THE OUTPUT GAP IN THE EURO AREA A JOINT ESTIMATION doc
... Paper Series No. 546 November 2005 WORKING PAPER SERIES NO. 546 / NOVEMBER 2005 THE NATURAL REAL INTEREST RATE AND THE OUTPUT GAP IN THE EURO AREA A JOINT ESTIMATION by Julien Garnier and Bjørn-Roger ... between the actual real in terest rate and the real interest rate gap are high an d their standard deviations are...
Ngày tải lên: 22/03/2014, 23:20
WORKING PAPER SERIES NO. 548 / NOVEMBER 2005: THE LINK BETWEEN INTEREST RATES AND EXCHANGE RATES DO CONTRACTIONARY DEPRECIATIONS MAKE A DIFFERENCE? doc
... their same study, Australia is classi…ed as freely ‡oating since December 1983 and as having a managed ‡oat since 1974, and New Zealand is de…ned as having a managed ‡oat since 1985 and a de facto moving ... of individual variables such as exchange rates and interest rates in EMEs against the benchmark of small open advanced economies. These s tudies normally …nd that in...
Ngày tải lên: 22/03/2014, 23:20
WORKING PAPER SERIES NO 1394 / NOVEMBER 2011: BANK RISK DURING THE FINANCIAL CRISIS DO BUSINESS MODELS MATTER? pot
... and Drehmann, 2009), and also changes in the broad stock market indices for non-financial corporations (sm), as calculated by Datastream. Both of these 26 ECB Working Paper Series No 1394 November ... Katerina Deligiannidou, Francesca Fabbri and Silviu Oprica for their help obtaining data. We thank for their insights to participants at the seminar held at Tilburg Univ...
Ngày tải lên: 15/03/2014, 10:20
WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES docx
... money and credit demand in the euro area and to analyse the transmission of monetary policy. We showed in this paper that the long commented sluggishness of retail rates in the euro area is largely ... References Agresti, A M. and J. Claessens, 2003, Financial structure in the euro area, in I. Angeloni, A. Kashyap and B. Mojon (eds), Monetary P...
Ngày tải lên: 15/03/2014, 14:20
WORKING PAPER SERIES NO 1395 / NOVEMBER 2011: ON THE IMPORTANCE OF PRIOR RELATIONSHIPS IN BANK LOANS TO RETAIL CUSTOMERS pptx
... categories The performance data also allow making inferences that pertain to loan amounts. We know the monthly repayment rate (i.e. interest plus principal repayment) and can calculate the loan maturity ... how the information in the account helps the bank, i.e. instead of analyzing the benefits of providing jointly a loan and a checking account to the same bor...
Ngày tải lên: 22/03/2014, 21:20
WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES pptx
... money and credit demand in the euro area and to analyse the transmission of monetary policy. We showed in this paper that the long commented sluggishness of retail rates in the euro area is largely ... References Agresti, A M. and J. Claessens, 2003, Financial structure in the euro area, in I. Angeloni, A. Kashyap and B. Mojon (eds), Monetary P...
Ngày tải lên: 22/03/2014, 23:20
Working PaPer SerieS no 967 / november 2008: Central bank miSPerCePtions and the role of money in interest rate rules pptx
... changes to in ation in Keynesian-style models. In these models changes in the nominal interest rate in uence the real interest rate due to the presence of price rigidities; the real interest rate determines ... run, that is nominal variables. Two candidates, in addition to filtered money-growth, are long-run nominal interest rates and filtered measures of...
Ngày tải lên: 29/03/2014, 13:20
WORKING PAPER SERIES NO. 407 / NOVEMBER 2004: BANKING CONSOLIDATION AND SMALL BUSINESS LENDING potx
... bank’s information and action set the bank can set (w,π ∗ ) pairs and base her firing/retaining decision about z H , z L and π. (3) The bank can not observe the state of the world and can not provide ... most interesting ones are analyzed in detail: banking consolidation and technological change. One should bear in mind that the model uses a partial setup: consequentl...
Ngày tải lên: 06/03/2014, 09:22
WORKING PAPER SERIES NO. 527 / SEPTEMBER 2005: BANKING SYSTEM STABILITY A CROSS-ATLANTIC PERSPECTIVE pptx
... Draisma et al. (2001), Peng (1999), and Beirlandt and Vandewalle (2002). 14 Minimizing the asymptotic mean-squared error for the Hill estimator by bal- ancing bias and variance renders a nonlinear ... http :// www.few.eur.nl/people/cdevries/ participants in the project, in particular by the organizers Mark Carey (also involving Dean Amel and Allen Berger) and Rene St...
Ngày tải lên: 06/03/2014, 09:22
What is the neutral real interest rate, and how can we use it? doc
... interest rates in New Zealand and those in Australia and the United States. The currency risk premium was then derived from actual interest rate differentials between New Zealand and Australia and ... real interest rate . The interest rates that we observe in day-to-day life are almost always expressed in nominal terms. For example, if an investor has money...
Ngày tải lên: 15/03/2014, 01:20