WORKING PAPER SERIES NO 868 / FEBRUARY 2008: PURDAH ON THE RATIONALE FOR CENTRAL BANK SILENCE AROUND POLICY MEETINGS pptx

... in the old days reporters were not very knowledgeable, many of the current breed have MAs and PhDs in economics.” WORKING PAPER SERIES NO 86 8/ FEBRUARY2 008 PURDAH ON THE RATIONALE FOR CENTRAL ... included in the analysis. 14 ECB Working Paper Series No 868 February 2008 On the one hand, the evidence about increasing volatility in the pre...

Ngày tải lên: 06/03/2014, 09:22

... environment, and either non-rational expectations or asymmetric information between the public and the central bank. If one or more of these conditions hold, central bank communication can matter. ... differences bear on economic outcomes. Policy decisions Most central banks nowadays inform the public about their monetary policy decisions on the day they are taken....

Ngày tải lên: 15/03/2014, 10:20

... between the information content of the BLS for bank loan growth compared to the other financial indicators considered. The main conclusion is that the BLS maintains its information content also ... and conditions for the loans. The aforementioned tables present the panel regression results for bank loan growth to non-financial corporations using realised corporate...

Ngày tải lên: 15/03/2014, 10:20

... data) 0.5 1.0 1.5 2.0 2.5 3.0 0 1/1 1 0 2/0 1 0 2/2 2 0 3/1 5 0 4/0 5 0 4/2 6 0 5/1 7 0 6/0 7 0 6/2 8 0 7/1 9 0 8/0 9 0 8/3 0 0 9/2 0 1 0/1 0 1 1/0 1 1 1/2 2 1 2/1 3 (%) euro area Events Fra nce UK US Note: Expectations from break-even inflation rate ... Boston, 2 2/0 9/0 2. 10 Goldman Sachs, 1 4/1 0/0 2. 11 See for example Deutsche Bank 0 8/1...

Ngày tải lên: 22/03/2014, 23:20

... deviations briefing material for the Council’s discussions on the monetary target for the year to come. Working PaPer SerieS no 967 / november 2008 Central bank miSPerCePtionS and the role of money ... under the assumption of asymmetric information as in Svensson and Woodford (2004). Their findings regarding the information value of money are even more negati...

Ngày tải lên: 29/03/2014, 13:20

... organizations), public non-financial organizations, other non-financial organizations and households) in the Banking System Survey. This information provides a basis for further enhancing of monetary ... http :// www.ecb.europa.eu or from the Social Science Research Network electronic library at http :// ssrn.com/abstract_id=2145295. Information on all of the papers published...

Ngày tải lên: 22/03/2014, 21:20

... represented the last big state-owned bank in the region giving at once a large market share for the buyer (The Banker (2006)). 9 ECB Working Paper Series No 748 May 2007 the loan market. This also allows ... equilibrium (formally stated below) the economies’ gross interest rates will be between 1/ H and 1/ L . Note that due to imperfect competition in the bank...

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... European Union country. 8 one single merger from the others in the sample as a few of banks on the sample merged several times. Second, when considering a longer time span, the effect of other economic ... appropriate supervision (see Vives, 2000). The effect of changes on the capital levels on performance hinges on the recent theory of the banking firm, which is based...

Ngày tải lên: 06/03/2014, 09:22

... high. The decentralized bank policy focuses attention on information division within the firm. The bank as a whole has the same information both in the centralized and in the decentralized bank ... Optimal Contract) The solution outlined in the Contract Offered proposition is the constrained optimal contract. Consequently, either the Frankfurt or the London poli...

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... of the conditioning set on the righ t-h and side. For example, the conditioning b anks do not necessarily ha ve to be a subset of the bank set on the left-hand side. M oreover, the cond itioning ... (1997). The tail probability estimator is con- ditional upon the tail index α and a c hoice of the threshold parameter m. 18 ECB Working Paper Series No. 527 Septe...

Ngày tải lên: 06/03/2014, 09:22