Evaluating the Macroeconomic Effects of the ECB's Unconventional Monetary Policies PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Evaluating the Macroeconomic Effects of the ECB's Unconventional Monetary Policies PDF full book. Access full book title Evaluating the Macroeconomic Effects of the ECB's Unconventional Monetary Policies by Jean-Guillaume Sahuc. Download full books in PDF and EPUB format.
Author: Jean-Guillaume Sahuc
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Jean-Guillaume Sahuc
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Naoyuki Yoshino
Publisher: Oxford University Press, USA
ISBN: 0198838107
Category : Business & Economics
Languages : en
Pages : 345
Get Book Here
Book Description
Barely two decades after the Asian financial crisis Asia was suddenly confronted with multiple challenges originating outside the region: the 2008 global financial crisis, the European debt crisis, and finally developed economies' implementation of unconventional monetary policies. The implementation of quantitative easing, ultra-low interest rate policies, and negative interest rate policies by a number of large central banks has given rise to concerns over financial stability and international capital flows. Macroeconomic Shocks and Unconventional Monetary Policy: Impacts on Emerging Markets explains how shocks stemming from the global financial crisis have affected macroeconomic and financial stability in emerging Asia. Macroeconomic Shocks and Unconventional Monetary Policy: Impacts on Emerging Markets brings together the most up-to-date knowledge impacts of recent macroeconomic shocks on Asia's real economy; the spillover effects of macroeconomic shocks on financial markets and flows in Asia; and key challenges for monetary, exchange rate, trade and macro prudential policies of developing Asian economies. It is authored by experts in the field of international macroeconomics from leading academic institutions, central banks, and international organizations including the International Monetary Fund, the Bank for International Settlement, and the Asian Development Bank Institute.
Author: Richard Varghese
Publisher: International Monetary Fund
ISBN: 1484338545
Category : Business & Economics
Languages : en
Pages : 33
Get Book Here
Book Description
ECB President Draghi’s Jackson Hole speech in August 2014 arguably marked a new phase of unconventional monetary policies (UMPs) in the euro area. This paper examines the market impact and tranmission channels of this new wave of UMPs using a modified event study framework. They are found to have a more prominent impact on inflation expectations and exchange rates compared to the earlier UMP announcements. The impact on bank equity, however, is less significant in part due to narrowing profit margin in a low interest rate environment; and the marginal effect on sovereign spread compression has diminished. By extracting components of monetary policy shocks from the yield curve, we find that the traditional signaling channel of the monetary policy transmission continued to play an important role, but the portfolio rebalancing channel became more important in the new phase. Spillovers to non-euro area EU countries (the Czech Republic, Denmark, Poland, and Sweden) are transmitted mainly through the portfolio rebalancing channel, largely affecting sovereign yields and exchange rates.
Author: Gert Peersman
Publisher:
ISBN:
Category : Eurozone
Languages : en
Pages : 0
Get Book Here
Book Description
Author: Marco Casiraghi
Publisher:
ISBN:
Category :
Languages : en
Pages : 41
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Dimitrios P. Louzis
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
The present study examines the efficiency of the unconventional monetary policy measures adopted by the Eurosystem during the period 2008 - 2016 in terms of boosting the eurozone's economy. Empirical investigation, which is based on a time-varying vector autoregressive model, suggests that unconventional monetary policy measures can lead to an increase in both inflation and GDP during the period 2007-2016. However, the effect of an unconventional monetary policy shock has increased significantly with the adoption of the Quantitative Easing policy from the ECB. Overall, the expansion of the assets purchase program and the strong commitment on behalf of the ECB to continue the unconventional monetary policy interventions as long as it is required to achieve the inflation target have contributed decisively to the success of the unconventional monetary policy measures.
Author: Pablo Burriel
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
Get Book Here
Book Description
Author: Clara De Luigi
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Vlad Andrievici
Publisher:
ISBN:
Category :
Languages : en
Pages : 128
Get Book Here
Book Description
