DO EUROPEAN CENTRAL BANK’S STATEMENTS STEER INTEREST RATES IN THE EURO ZONE?* potx

... contained in interest rates around the date of the statement. PCA consists in projecting the n daily changes in the interest rates we consider (Euro zone short- and long-term interest rates) on the ... Blackwell Publishing Ltd and The University of Manchester 2006 DO EUROPEAN CENTRAL BANK’S STATEMENTS STEER INTEREST RATES IN THE EURO ZONE?*...

Ngày tải lên: 29/03/2014, 01:20

... provide valuable insights regarding Europe’s recent concerns. One major question is whether the European Central Bank’s policies are optimal for all the countries in the Eurozone or if they disproportionately ... assuming it stays in the euro, no inflation either – yet market interest rates are likely to be quite high.” 50 G. Finland Finland’s case appears to be s...

Ngày tải lên: 29/03/2014, 13:20

... changes in interest rates between the market interest rates and the retail interest rates. Following a brief description of retail interest rate trends during the crisis, we seek to determine the ... because long-term interest 39 Central bank rates, market rates and retail bank rates in the euro area in the Context of the reCent Crisis Chart 10 L...

Ngày tải lên: 15/02/2014, 05:20

... allowing a preliminary estimate for 2010. The main poverty line is $1.25 a day at 2005 prices, but other lines are also used  $1.25 is the average of the national poverty lines found in the ... Development Goal of halving the 1990 incidence of extreme poverty by 2015  Using the $1.25 a day line, the developing world as a whole reached the MDG1 in 2010, despite th...

Ngày tải lên: 29/03/2014, 09:20

... even in the degree of integration of euro area bank interest rates: this is the argument of the next sections. 4. The determinants of national differences in euro area bank interest rates Having ... regressions of the 5 categories of deposit interest rates; in the regressions of the 5 categories of lending interest rates to households; and in the...

Ngày tải lên: 29/03/2014, 13:20

... determinants of the variable interest rates in the post-2008 period. 4.1 Data Table 5 summarises the data used in the modelling. The price lenders have to pay for their funding is a key variable of interest ... examines the changing manner in which Irish financial institutions set their variable interest rates over the period 2003 - 2011. In particular, the on...

Ngày tải lên: 15/03/2014, 14:20

... confirm that the interest rate, within the sample, is integrated of order one. Furthermore, it is co-integrated with the policy rate, i ∗ t . Therefore, the interest rates, i t ,ismodelledinfirst differences, ... expected marginal lending r ate is lower than the current minimum bid rate. In this case obtaining liquidity in the future from the marginal lending facility is e...

Ngày tải lên: 22/03/2014, 23:20

... that the paper is preliminary. Materials published in this series may be subject to further publication. Central Bank Interventions, Communication and Interest Rate Policy in Emerging European ... DISCUSSION PAPERS MT-DP – 2006/15 Central Bank Interventions, Communication and Interest Rate Policy in Emerging European Economies BALÁZS ÉGERT INSTITUTE OF...

Ngày tải lên: 15/03/2014, 14:20

... financial indexation. There is strong inertia due to the indexation of financial contracts to the overnight interest rate (World Bank, 2006). While this indexation has maintained financial intermediation ... where   is the nominal short-run (90-day paper) interest rate,    the neutral nominal interest rate,   stands for the rate of inflation,    is the infl...

Ngày tải lên: 15/03/2014, 14:20

... name of the currency – euro – in both the Latin (EURO) and Greek (EYPΩ) alphabets; • the “12 stars” symbol of the European Union; • the initials of the issuing authority in the five linguistic ... practice, the ECB’s banknotes are put into circulation by the NCBs, thereby incurring matching liabilities vis-à-vis the ECB. These liabilities carry interest at the...

Ngày tải lên: 16/02/2014, 10:20