Financial Structure and Monetary Transmission in Europe

Financial Structure and Monetary Transmission in Europe
Author: Gabe J. De Bondt
Publisher: Edward Elgar Publishing
Total Pages: 184
Release: 2000
Genre: Business & Economics
ISBN:

Taking data from 1980 to 1995 and empirical evidence from six European countries an economist at De Nederlandsche Bank, investigates whether cross-country variations in financial structure have a systematic relationship with inter-country differences in the monetary transmission process. The countries are Germany, France, Italy, Britain, Belgium, and the Netherlands. The conclusion is that some elements of the financial structure are clearly relevant and applicable for European monetary policy and the monetary transmission process in particular. Annotation copyrighted by Book News, Inc., Portland, OR

Financial Structure and Monetary Transmission in Europe

Financial Structure and Monetary Transmission in Europe
Author: Gabe J. De Bondt
Publisher: Edward Elgar Publishing
Total Pages: 184
Release: 2000-01-01
Genre: Business & Economics
ISBN: 9781782542759

'I can fully recommend this book to those interested in the transmission process of monetary policy.' - Harry Garretsen, De Economist Due to financial market imperfections it is imperative to analyse the relationship between financial structure and the monetary policy transmission process in Europe to effectively design and implement European monetary policy. Focusing on the years 1980-1995 and providing empirical evidence for six European countries, namely Germany, France, Italy, the UK, Belgium and the Netherlands, the author discusses whether cross-country variations in financial structure have a systematic relationship with inter-country differences in the monetary transmission process. The analysis of this is invaluable as differences in financial structures across EMU countries may hamper the implementation of a common European monetary policy in the future. The conclusion is that some elements of the financial structure are clearly relevant and applicable for European monetary policy and the monetary transmission process in particular.

Monetary Policy Transmission in the Euro Area

Monetary Policy Transmission in the Euro Area
Author: Ignazio Angeloni
Publisher: Cambridge University Press
Total Pages: 515
Release: 2003-12-04
Genre: Business & Economics
ISBN: 1139438816

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.

Monetary Policy in Times of Crisis

Monetary Policy in Times of Crisis
Author: Massimo Rostagno
Publisher: Oxford University Press
Total Pages: 449
Release: 2021
Genre: Business & Economics
ISBN: 0192895915

The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.

Monetary Policy Transmission in Emerging Markets and Developing Economies

Monetary Policy Transmission in Emerging Markets and Developing Economies
Author: Mr.Luis Brandao-Marques
Publisher: International Monetary Fund
Total Pages: 54
Release: 2020-02-21
Genre: Business & Economics
ISBN: 1513529730

Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.

Handbook of European Financial Markets and Institutions

Handbook of European Financial Markets and Institutions
Author: Xavier Freixas
Publisher:
Total Pages: 848
Release: 2008-01-03
Genre: Business & Economics
ISBN:

Written by leading academics and practitioners, this book provides an overview of financial markets and addresses major policy issues using the most advanced tools of theoretical and empirical economic analysis. In particular, the book focuses on financial integration and the structural reforms now taking place in the European financial sector.

Negative Interest Rate Policy (NIRP)

Negative Interest Rate Policy (NIRP)
Author: Andreas Jobst
Publisher: International Monetary Fund
Total Pages: 48
Release: 2016-08-10
Genre: Business & Economics
ISBN: 1475524471

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.

Monetary Policy in the Euro Area

Monetary Policy in the Euro Area
Author: Otmar Issing
Publisher: Cambridge University Press
Total Pages: 220
Release: 2001-07-26
Genre: Business & Economics
ISBN: 9780521788885

A non-technical analysis of the monetary policy strategy, institutions and operational procedures of the Eurosystem, first published in 2001.

The Monetary Transmission Process

The Monetary Transmission Process
Author: D. Bundesbank
Publisher: Springer
Total Pages: 329
Release: 2001-01-29
Genre: Business & Economics
ISBN: 0230595995

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.