working paper series nber

... acknowledged. The views expressed in this paper do not necessarily reflect those of the European Central Bank. The statement of purpose for the ECB Working Paper Series is available from the ECB-CFS ... linkages with the United States and Japan After two years of work, the ECB Working Paper Series is issuing a selection of papers from the Network This selection is covering the priority areas “European ... ofthe paper The investigation of trading surrounding economic announcements in ¯xed incomemarkets has been analyzed by Fleming and Remolona (1999) and Balduzzi, Elton and Green(2001) These papers

Ngày tải lên: 16/02/2014, 02:20

... Trang 1Canada This working paper is available as a downloadable pdf file on our website http://economics.uwo.ca/centres/epri/ ... 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 ... so that some “pooling” is necessary to spread the fixedcost across multiple types of borrowers Working against larger pools is that biggerpools requires a broader range of risk types, which leads

Ngày tải lên: 06/03/2014, 08:20

... acknowledged The views expressed in this paper do not necessarily reflect those of the European Central Bank. non-The statement of purpose for the ECB Working Paper Series is available from the ECB website, ... Marqués Ibáñez3 1 The opinions expressed in this paper are only those of the authors and do not necessarily reflect the views of the ECB.This paper was completed while the first author was visiting ... Molyneux, Rudy Vander Vennet, Jukka Vesala and Peter Wilkinson.We would also like to thank This paper can be downloaded without charge from http://www.ecb.int or from the Social Science Research

Ngày tải lên: 06/03/2014, 09:22

... Trang 1Working PaPer SerieSTrang 2by Lorenzo Cappiello 2, Arjan Kadareja 3, Christoffer Kok Sørensen 2 and Marco ... in this paper do not necessarily refl ect those of the European Central Bank. Trang 5Abstract Applying the identi…cation strategy employed by Driscoll (2004) for the United States, this paper provides ... countries. 1 5 Prior to January 2003 (where the o¢ cial MFI interest rate series start) we use internally estimated back series of the deposit rates.

Ngày tải lên: 15/03/2014, 10:20

... views expressed in this paper do not necessarily refl ect those of the European Central Bank. Information on all of the working papers published in the ECB’s Working Paper Series can be found on ... Trang 1Working PaPer SerieSTrang 2José-Luis Peydró and Silvia ScopelAND OUTPUT GROWTH Trang 3© European Central ... capture non-price loan supply-related factors The use of this information distinguishes this paper from the papers mentioned earlier featuring euro area bank credit studies These studies all have

Ngày tải lên: 15/03/2014, 10:20

... 40 However, we now not include maintenance period fixed effects ECB Working Paper Series No 1376 September 2011 ECB Working Paper Series No 1376 September 2011 41 N uncensored Cooperative central ... written authorisation of the ECB or the authors Information on all of the papers published in the ECB Working Paper Series can be found on the ECB’s website, http://www ecb.europa.eu/pub/scientific/wps/date/ ... working paper New York University, New York Acharya, V., Merrouche, O., 2009 Precautionary hoarding of liquidity and interbank markets: evidence from the subprime crisis Unpublished working paper

Ngày tải lên: 15/03/2014, 10:20

... Region Working Paper Series expedites dissemination of applied research and policy studies with potential for improving economic performance and social conditions in Sub-Saharan Africa The Series ... publishes papers at preliminary stages to stimulate timely discussion within the Region and amo ng client countries, donors, and the policy research community The editorial board for the Series ... from professional Families appointed by the Region’s Sector Directors Editor in charge of the series: Antoine Waldburger, AFTM3, Email: awaldburger@worldbank.org, who may be contacted for hard

Ngày tải lên: 15/03/2014, 10:20

... acknowledged The views expressed in this paper do not necessarily reflect those of the European Central Bank. non-The statement of purpose for the ECB Working Paper Series is available from the ECB website, ... 17 Appendix: State dependent pricing 20 25 European Central Bank working paper series 46 Tables and charts Trang 5Abstract This paper analyses the pricing of bank loans and deposits in euro area ... nine countries) and long-term (six series) loans to enterprises, mortgages to households (ten series), consumer credit (seven series) and time deposits (nine series) Each of those five retail

Ngày tải lên: 15/03/2014, 14:20

... public goods The Series is a quick-disseminating, informal publication that seeks to provide information, generate discussion, and elicit comments Working papers published under this Series may subsequently ... lschouzibell@ adb.org, Tel: 632 632 5245, Fax: 632 636 2183. December 2008 Trang 4The ADB Working Paper Series on Regional Economic Integration focuses on topics relating to regional cooperation ... reforming the stamp duty tax, and revamping disclosure requirements for corporate public offers This paper reviews the development and outlook of the Indian bond market It looks at the market participants—including

Ngày tải lên: 22/03/2014, 20:20

... Trang 1WORKING PAPER SERIESNO 1457 / AUGUST 2012 EXCESSIVE BANK RISK TAKING AND MONETARY POLICY Itai Agur and Maria Demertzis NOTE: This Working Paper should not be reported ... http://ssrn.com/abstract_id=1573675. Information on all of the papers published in the ECB Working Paper Series can be found on the ECB’s website, Macroprudential Research Network This paper presents research conducted ... The current paper focusses on a one-period framework In a companion paper, Agur and mertzis (2011), we take as given the "why to lean against the wind" analyzed in the current paper,and

Ngày tải lên: 22/03/2014, 21:20

... acknowledged The views expressed in this paper do not necessarily reflect those of the European Central Bank. non-The statement of purpose for the ECB Working Paper Series is available from the ECB website, ... able research assistance, Ioana Alexopoulou and Jorge Sicilia for helping us with data and This paper can be downloaded without charge from http://www.ecb.int or from the Social Science Research ... stylised facts about yields and 3.3 Stylised facts for selected European Central Bank Trang 5In this paper we assess the importance given in capital markets to the credibility of theEuropean fiscal

Ngày tải lên: 22/03/2014, 23:20

... 6 Some properties of the data 24 7 Time series and cross section volatility 26 European Central Bank working paper series 40 Trang 5The purpose of this paper is to study the determinants of equilibrium ... Würtz (2003) In this paper we pursue this empirical research programme further by considering lending rates charged by individual banks To our knowledge, this is the first paper in the literature ... modelling strategy in the paper Most of the theoretical models of daily funds market equilibrium have evolved from the early seminal contribution by Poole (1968)1 Some of the papers in this literature

Ngày tải lên: 22/03/2014, 23:20

... Monetary Policy Stance Divsion of the European Central Bank who compiled this series and made it available to me Their series shows the deviation of the liquidity situation from neutral, expected ... commercial purposes is permitted provided that the source is acknowledged The views expressed in this paper do not necessarily reflect those of the European Central Bank. Trang 43.2 Estimation results ... end ofthe yield curve It is the equilibrium outcome of supply and demand for bank reserves Thispaper models the intertemporal decision problems in the reserve market for both central andcommercial

Ngày tải lên: 22/03/2014, 23:20

... author(s). The views expressed in this paper do not necessarily reflect those of the European Central Bank. The statement of purpose for the ECB Working Paper Series is available from Trang 43 A ... Some papers find that most of the fluctuations in the real interest rate should be tributed to fluctuations in the real interest rate gap rather than the natural real interestrate This group of papers, ... baselineestimate of the euro area real interest rate gap on inflation and economic activity The paper is structured as follows In section two we take a look at the data for the realinterest rate

Ngày tải lên: 22/03/2014, 23:20

... with the explicit written authorisation of the ECB or the author(s). The views expressed in this paper do not necessarily reflect those of the European Central Bank. Trang 5Abstract The link between ... features promi- nently in the theoretical and empirical literature on small open economies This paper revisits this relationship using a simple model that incorpo- rates the role of exchange rate ... exchange rate regimes, even if the extent of such ‡uctuations is still a matter of debate This paper revisits the relationship between exchange rates and interest rates in small open economies

Ngày tải lên: 22/03/2014, 23:20

... rate series with the series of the NRIR statistics This inevitably causes a data break in the series, which may impact on the results However, the linking of the MIR series with the NRIR series ... construction of the backward 52 61 Descriptive charts European Central Bank Working Paper Series Trang 5Abstract The present paper investigates the pass-through between market interest rates and bank ... author(s). The views expressed in this paper do not necessarily reflect those of the European Central Bank. The statement of purpose for the ECB Working Paper Series is available from the ECB website,

Ngày tải lên: 22/03/2014, 23:20

... 2007 all ECB publications feature a motif taken from the €20 banknote. WORKING PAPER SERIES NO 748 / MAY 2007 This paper can be downloaded without charge from http://www.ecb.int or from the ... Marius Jurgilas 4 1 We thank an anonymous referee of the ECB Working Paper Series for many useful comments. Any views expressed in this paper are those of the authors and do not necessarily represent ... author(s). The views expressed in this paper do not necessarily reflect those of the European Central Bank. The statement of purpose for the ECB Working Paper Series is available from the ECB

Ngày tải lên: 22/03/2014, 23:20

... one regularity documented in this paper — have taken effect, in order to avoid the substantial and long-lasting inflation swings characterizing any country’s time series data A wait-and-see approach ... it” This paper assesses Trang 11the usefulness of monetary aggregates in providing these guidelines and contrastsmonetary analysis to the current mainstream monetary policy analysis.The paper presents ... Interest rates are 3-month rates All series except interest rates are seasonally adjusted The samples considered, chosen according to availability of the data series used in the analysis, are 1959Q1-2006Q2

Ngày tải lên: 22/03/2014, 23:20

... Brazilian Fixed Income Market Working Paper Series Trang 2ISSN 1518-3548 CGC 00.038.166/0001-05 Trang 3Working Paper Series Edited by Research Department (Depep) – E-mail: workingpaper@bcb.gov.br Editor: ... The Banco Central do Brasil Working Papers are all evaluated in double blind referee process Reproduction is permitted only if source is stated as follows: Working Paper n 141 Authorized by ... Brazilian FixedIncome Market ∗ The Working Papers should not be reported as representing the views of the Banco Central do Brasil The views expressed in the papers arethose of the author(s) and

Ngày tải lên: 29/03/2014, 06:21

... Trang 3Working Paper Series Edited by Research Department (Depep) – E-mail: workingpaper@bcb.gov.br Editor: Benjamin Miranda Tabak – E-mail: ... The Banco Central do Brasil Working Papers are all evaluated in double blind referee process Reproduction is permitted only if source is stated as follows: Working Paper n 214 Authorized by ... risks and inflation risk premia, Working Paper 1162, European Central Bank [8] Greenwood, R and D Vayanos (2009) Price pressure in the bond mar-ket, working paper, Harvard University [9] Grishchenko,

Ngày tải lên: 29/03/2014, 06:21