WORKING PAPER SERIES NO 756 / MAY 2007: MAINTAINING LOW INFLATION MONEY, INTEREST RATES, AND POLICY STANCE docx

... policies.18ECB Working Paper Series No 756 May 2007ISSN 1561081-09 771561 081005 WORKING PAPER SERIES NO 756 / MAY 2007 MAINTAINING LOW INFLATION MONEY, INTEREST RATES, AND POLICY STANCEby ... Friedman and Kuttner (1992) and Walsh (2003).28ECB Working Paper Series No 756 May 2007In 2007 all ECB publications feature a motif taken from the €20 banknote. WORKING PAPER SERIES NO 756 / ... e-mail: samuel.reynard@snb.ch MAINTAINING LOW INFLATION MONEY, INTEREST RATES, AND POLICY STANCE 1by Samuel Reynard 2 electronic library at http :// ssrn.com/abstract_id=985126.mon etar...

WORKING PAPER SERIES NO 748 / MAY 2007: FINANCIAL DOLLARIZATION THE ROLE OF BANKS AND INTEREST RATES docx

... are denominated in foreign currency,following the “original sin” literature.18ECB Working Paper Series No 748 May 2007ISSN 1561081-09 771561 081005 WORKING PAPER SERIES NO 748 / MAY 2007FINANCIALDOLLARIZATION ... loanrates down.28ECB Working Paper Series No 748 May 2007In 2007 all ECB publications feature a motif taken from the €20 banknote. WORKING PAPER SERIES NO 748 / MAY 2007This paper can be downloaded ... stated below) the economies’ gross interest rateswill be between 1/ H and 1/ L. Note that due to imperfect competition inthe banking market there will be two rates, one for deposits and another...

WORKING PAPER SERIES NO 845 / DECEMBER 2007: RUN-PRONE BANKING AND ASSET MARKETS doc

... %&    !  WORKING PAPER SERIES NO 845 / DECEMBER 2007RUN-PRONE BANKING AND ASSET MARKETSby Marie Hoerova19ECB Working Paper Series No 845December 2007+74 >?C8<0; ... O WORKING PAPER SERIES NO 845 / DECEMBER 2007In 2007 all ECB publications feature a motif taken from the 20 banknote.RUN-PRONE BANKING AND ASSET MARKETS 1by Marie Hoerova 2This paper ... fromhttp :// www.ecb.europa.eu or from the Social Science Research Networkelectronic library at http :// ssrn.com/abstract_id=1054981.1 I am grateful for comments and advice from Bruno Biais,...

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WORKING PAPER SERIES NO 898 / MAY 2008: CENTRAL BANK COMMUNICATION AND MONETARY POLICY A SURVEY OF THEORY AND EVIDENCE doc

... does not know 10 For related work see Michelle Garfinkel and Seonghwan Oh (1995), Faust and Svensson (2001), and Henrik Jensen (2002). 16ECB Working Paper Series No 898 May 2008banks, and ... of the Czech Republic, Japan, New Zealand, Norway, Poland, Sweden, and Switzerland also hold regular press conferences. 23ECB Working Paper Series No 898 May 2008there are four main differences. ... CoMMuniCation and Monetary PoliCy a Survey of theory and evidenCeby Alan S. Blinder, Michael Ehrmann, Marcel Fratzscher, Jakob De Haan and David-Jan Jansen19ECB Working Paper Series No 898 May 2008learn...

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WORKING PAPER SERIES NO 804 / AUGUST 2007 GROWTH ACCOUNTING FOR THE EURO AREA A STRUCTURAL APPROACH pptx

... uniequational estimates(Schumacher, 2005).18ECB Working Paper Series No 804August 2007ISSN 1561081-09 771561 081005 WORKING PAPER SERIES NO 804 / AUGUST 2007GROWTH ACCOUNTING FOR THE EURO ... decomposition,ζ†t and κ†tare two mutually and serially independent Gaussian disturbances, ζ†t∼ NID(0, Σζ), κ†t∼20ECB Working Paper Series No 804August 2007NID(0, λΣζ), and the scalar polynomial ... isnegative and takes the value -0.649; the level effect, 0.028, is not signiﬁcantly different from zero.17ECB Working Paper Series No 804August 2007The estimated covariances between the level and...

Tài liệu OCCASIONAL PAPER SERIES NO 64 / JULY 2007: THE USE OF PORTFOLIO CREDIT RISK MODELS IN CENTRAL BANKS doc

... 7.7OCCASIONAL PAPER SERIES NO 64 / JULY 2007This paper can be downloaded without charge from http :// www.ecb.int or from the Social Science Research Network electronic library at http :// ssrn.com/abstract_id=977355.THE ... default mode. Well-known empirical studies into recovery rates are from Asarnow and Edwards (1995), Carty and Lieberman (1996), Altman and Kishore (1996), and Altman, Resti and Sironi (2005). ... and below the VaR (using interpolation when the standard deviation is not an integer number). The difference between the upper and lower bound, expressed as a percentage of the VaR and divided...

OCCASIONAL PAPER SERIES NO 68 / AUGUST 2007: THE SECURITIES CUSTODY INDUSTRY potx

... of options and, in some cases, financing the purchase of the underlying shares.OCCASIONAL PAPER SERIES NO 68 / AUGUST 2007This paper can be downloaded without charge from http :// www.ecb.int ... 1Iberclear-CADE 1Netherlands Euroclear Nederland 1 1Total64328Source: D. Russo and S. Rosati (2007).17ECB Occasional Paper No 68August 2007Country of counterparty posting collateral and investor ... amount/fewer securities. ISSN 1607148-49 771607 148006OCCASIONAL PAPER SERIES NO 68 / AUGUST 2007THE SECURITIES CUSTODY INDUSTRYby Diana Chan, Florence Fontan, Simonetta Rosati and Daniela...

WORKING PAPER SERIES NO. 398 / OCTOBER 2004: MERGERS AND ACQUISITIONS AND BANK PERFORMANCE IN EUROPE THE ROLE OF STRATEGIC SIMILARITIES potx

... asset/Total depositCost-income ratioCOST/INC Total cost/Total revenuesCapital-assets ratioCA/TA Capital/Total assetsLoans-total assetsLOAN/TA Net loans/Total assetsCredit riskBADL/INT_INC ... from the €100 banknote.W ORKING PAPER SERIES NO. 398 / OCTOBER 2004MERGERS AND ACQUISITIONS AND BANK PERFORMANCE IN EUROPETHE ROLE OF STRATEGIC SIMILARITIES12 and David Marqués Ibáñez31 ... between capital and earnings, and suggestinga positive relationship between capital structure dissimilarities and performance (see 11 Berger, 1995, p. 436.17ECB Working Paper Series No. 398October...

WORKING PAPER SERIES NO. 407 / NOVEMBER 2004: BANKING CONSOLIDATION AND SMALL BUSINESS LENDING potx

... agent, a s the agent contemplates18ECB Working Paper Series No. 407November 2004W ORKING PAPER SERIES NO. 407 / NOVEMBER 2004BANKING CONSOLIDATION AND SMALL BUSINESS LENDINGby Előd Takátsonly ... ¯u − qBµH28ECB Working Paper Series No. 407November 2004In 2004 all publications will carry a motif taken from the €100 banknote.W ORKING PAPER SERIES NO. 407 / NOVEMBER 2004BANKING ... state.17ECB Working Paper Series No. 407November 2004London policy: financing volume0123456Good Bad Good Bad Good Bad Good Bad Good BadLondon BenchmarkFigure 3: London policy The London policy...

WORKING PAPER SERIES NO. 527 / SEPTEMBER 2005: BANKING SYSTEM STABILITY A CROSS-ATLANTIC PERSPECTIVE pptx

... (2004).28ECB Working Paper Series No. 527September 2005In 2005 all ECB publications will feature a motif taken from the €50 banknote. WORKING PAPER SERIES NO. 527 / SEPTEMBER 2005This paper ... contained.24The non-normalit y of stock returns in general is a well-known fact in ﬁnancialeconomics since at least the fundamental work by Mandelbrot (1963). For a related27ECB Working Paper Series No. ... http :// www.fdewb.unimaas.nl/finance/faculty/straetmans/ 4 Faculty of Economics, Erasmus University Rotterdam, P.O. Box 1738, 3000 DR Rotterdam,The Netherlands;e-mail: cdevries@few.eur.nl, URL: http :// www.few.eur.nl/people/cdevries/participants...

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