... decisions.11 ECB Working PaperSeries No. 441February 200545 ECB Working PaperSeries No. 441February 2005European Central Bank workingpaper series For a complete list of Working Papers published ... exogeneity assumptions relevant to the estimation of PhillipsCurves.14 ECB Working PaperSeries No. 441February 2005W ORKING PAPER SERIES NO. 441 / FEBRUARY 2005THE PHILLIPS CURVE AND LONG-TERM ... Long-Term Unemployment Reducea Person’s Chance of a Job? A Time Series Test," Economica, Vol. 58(229), pp. 93-106.36 ECB Working PaperSeries No. 441February 2005Figure 2: Unemployment and the...
... present their estimation results. They are available upon request23 ECB Working PaperSeries No. 432January 20053 ECB Working PaperSeries No. 432January 2005CONTENTSAbstract 4Non-technical summary ... 15/07/05 Btp 01/03/07 Btp 01/08/11 Btp 01/05/31Mts ItalyEuromts41 ECB Working PaperSeries No. 432January 200547 ECB Working PaperSeries No. 432January 2005412 “The real effects of money growth ... flow JEL classification: F31, C32 4 ECB Working PaperSeries No. 432January 200548 ECB Working PaperSeries No. 432January 2005431January 2005.432by Y. C. Cheung,...
... equilibria with adverse selection. Our paper differs both inits focus on financial innovations, and incorporation of fixed costs of creating contracts.The remainder of the paper is organized as follows. ... Philadelphia – Discussion Paper Payment Cards Center, December.. 2 003. “Credit Card Pricing Developments and Their Disclosure.” Federal Re-serve Bank of Philadelphia – Discussion Paper Payment Cards ... leads to lowerinterest rates and increased competition for borrowers. Our work differs from thesepapers in several key respects. First, we introduce a novel mechanism which operatesthrough the...
... differencesbetween bidders and targets are statistically significant.20 ECB Working PaperSeries No. 398October 20043 ECB Working PaperSeries No. 398October 2004CONTENTSAbstract 4Non-technical summary ... consolidation observed in recent years in the European Union.26 ECB Working PaperSeries No. 398October 200435 ECB Working PaperSeries No. 398October 2004390 “Financial markets’ behavior around ... the U.S. banking industry,University of Pennsylvania, The Wharton School WorkingPaperSeries 10.30 ECB Working PaperSeries No. 398October 2004ReferencesAcharya, S. (1988), A generalised...
... expressed in this paper do notnecessarily reflect those of the EuropeanCentral Bank.The statement of purpose for the ECB Working PaperSeries is available from the ECB website, http://www .ecb. int.ISSN ... or 0 <qGθH−c2+qGµHδ− ¯u.10 ECB Working PaperSeries No. 407November 2004or fire (R =0)the credit officer accordingly.W ORKING PAPER SERIES NO. 407 / NOVEMBER 2004BANKING CONSOLIDATION ... governance, banking, small business lending, efficiency wage4 ECB Working PaperSeries No. 407November 2004Non-tec hnical summ aryThe paper provides a new perspective on the effects of banking...
... like35 ECB Working PaperSeries No. 527September 2005In 2005 all ECB publications will feature a motif taken from the €50 banknote. WORKING PAPER SERIES NO. 527 / SEPTEMBER 2005This paper ... mea-sure to assess the systemic breadth of currency crises.14 ECB Working PaperSeries No. 527September 2005 WORKING PAPER SERIES NO. 527 / SEPTEMBER 2005BANKING SYSTEM STABILITYA CROSS-ATLANTICPERSPECTIVEby ... marketindex.34They are available from the authors on request.42 ECB Working PaperSeries No. 527September 2005Abstract This paper derives indicators of the severity and structure of banking...
... 34?>B8C>AB C> <>=8C>A 10=:4AB WORKING PAPER SERIES NO 845 / DECEMBER 2007RUN-PRONE BANKINGAND ASSET MARKETSby Marie Hoerova35 ECB Working PaperSeries No 845December 2007B>;4;H ... D-60311 Frankfurt am Main, Germany; e-mail: marie.hoerova @ecb. int; Phone: +49 69 1344 8710, fax: +49 69 1344 8552.32 ECB Working PaperSeries No 845December 20071H % % ... 02@D8A4 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...
... authorisation of the ECB or the author(s). The views expressed in this paper do not necessarily refl ect those of the European Central Bank.The statement of purpose for the ECB Working PaperSeries is ... is available from the ECB website, http://www .ecb. europa.eu/pub/scientifi c/wps/date/html/index.en.htmlISSN 1561-0810 (print) ISSN 1725-2806 (online) WORKING PAPER SERIES NO 868/FEBRUARY2008PURDAHON ... to be measured with error, leading to an attenuated estimator in the mean equation. 10 ECB Working PaperSeries No 868February 20083. Measuring Communication As to the data on communication,...
... Media.” ECBWorkingPaper 679. Berger, Helge, Jakob De Haan, and Jan-Egbert Sturm. 2006. “Does Money Matter in the ECB Strategy? New Evidence Based on ECB Communication.”, CESifo WorkingPaper ... issues for future research 45References 48European Central Bank WorkingPaperSeries 54CONTENTS15 ECB Working PaperSeries No 898May 2008122007). The models differ with respect to both ... authorisation of the ECB or the author(s). The views expressed in this paper do not necessarily refl ect those of the European Central Bank.The statement of purpose for the ECB Working PaperSeries is...
... 28 ECB Working PaperSeries No 1075July 2009European Central Bank WorkingPaper Series For a complete list of Working Papers published by the ECB, please visit the ECB s website (http://www .ecb. europa.eu).1041 ... Conclusions 19References 21Tables and fi gures 24European Central Bank WorkingPaperSeries 28CONTENTS4 ECB Working PaperSeries No 1075July 2009AbstractWe find evidence of a bank lending ... wage rigiDity anD optimal steaDy- state inflation working paper series no 1048 / april 2009WAGE DYNAMICSNETWORK18 ECB Working PaperSeries No 1075July 2009 This model completely eliminates...
... 0.58Market leverage Book leverage 36 ECB Working PaperSeries No 1096Septembre 20095 ECB Working PaperSeries No 1096Septembre 2009The objective of this paper is to examine whether capital ... 24156314422074369R20.790.290.190.5534 ECB Working PaperSeries No 1096Septembre 20094 ECB Working PaperSeries No 1096Septembre 2009 Abstract The paper shows that mispriced deposit insurance ... Moreover, since leverage is one minus the equity ratio, the 14 ECB Working PaperSeries No 1096Septembre 20096 ECB Working PaperSeries No 1096Septembre 2009Fourth, unobserved time-invariant...
... Netherlands, and Spain. ECB Working PaperSeries No 1150January 201025 WORKING PAPER SERIES NO 1150 / JANUARY 2010This paper can be downloaded without charge fromhttp://www .ecb. europa.eu or from ... E52, G214 ECB Working PaperSeries No 1150January 2010Table 5 - ContnuedPanel B: IV panel regression of GDP growth on loans growth and changes in credit standards28 ECB Working PaperSeries ... shock in any one of the euro area member states. If households5 ECB Working PaperSeries No 1150January 20103 ECB Working PaperSeries No 1150January 2010Abstract 4Non-technical summary 51...
... growtht 21 ECB Working PaperSeries No 1160February 2010 WORKING PAPER SERIES This paper can be downloaded without charge fromhttp://www .ecb. europa.eu or from the Social ... leads to higher liquidity needs over the short term (see for 12 ECB Working PaperSeries No 1160February 2010 Working PaPer SerieS no 1118 / november 2009DiScretionary FiScal PolicieS over ... residential investment and private consumption (not reported). 15 ECB Working PaperSeries No 1160February 2010 Working PaPer SerieS no 1160 / FeBrUarY 2010evidence For by Gabe de Bondt, José-Luis...
... written authorisation of the ECB or the authors. Information on all of the papers published in the ECBWorkingPaperSeries can be found on the ECB s website, http://www. ecb. europa.eu/pub/scientific/wps/date/html/index.en.htmlISSN ... “Structural Change in the German Bank-ing System?” Goethe University WorkingPaper Finance and Accounting No. 147.40 ECB Working PaperSeries No 1272December 2010Hakenes, H. and I. Schnabel (2010): ... results of a series of additional tests to illustrate the robustnessof our findings. One, using savings bank group fixed effects leaves the results qualitatively23 ECB Working PaperSeries No 1272December...
... 22 ECB Working PaperSeries No 1332April 2011emphasis of the paper has been to identify whether financial stability-related communication “creates news” and/or “reduces noise”. The paper s ... of a cluster or not. 8 ECB Working PaperSeries No 1332April 2011The paper proceeds in section 2 by outlining a more general motivation and relating the current paper to the existing literature. ... contains newspaper articles and newswire reports from 14,000 sources. As shown in Table 1, the dataset contains information on 367 FSRs. The increasing tendency of 29 ECB Working PaperSeries No...