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495 results matching your search
Date	Type	Description
161 21/03/2014	Article	REF 113 Central Banks Crises and challenges The Changing Role of Central Banks in the Crisis Free access Lorenzo BINI SMAGHI The crisis has exposed central banks all over the world to play a special – and partly new – role in advanced economies. This poses a series of challenges to the institutional… JEL classification : E58 E63 F36 G01
162 21/03/2014	Article	REF 113 Central Banks Crises and challenges Unconventional Monetary Policy: The Israeli Experience Free access Jacob BRAUDE Nathan SUSSMAN Monetary policy in Israel during the global crisis used unconventional measures alongside aggressive cuts in the interest rate. The measures included the purchase of foreign… JEL classification : E58 E61 G01 G15
163 21/03/2014	Article	REF 113 Central Banks Crises and challenges Monetary Policy in the Crisis: Confronting Short-Run Challenges While Anchoring Long-Run Expectations Free access Benoît CŒURÉ The crisis has exposed the balancing act lying at the heart of monetary policy. On the one hand, central banks are key participants in addressing short-term challenges that the… JEL classification : E58 E63 F36 G01
164 21/03/2014	Article	REF 113 Central Banks Crises and challenges Emerging Markets Monetary Policy: The Last Five Years and the Next Five Free access Manoj PRADHAN Before the crisis emerging countries experienced substantial economic growth and their central banks made considerable progress in adopting modern and theoretically sound… JEL classification : E58 G01 O23 O25
165 21/03/2014	Article	REF 113 Central Banks Crises and challenges Fiscal Implications of the ECB’s Bond Buying Program Free access Paul de GRAUWE Yuemei JI The perception that the government bond buying program (OMT) announced by the ECB may lead to future tax burdens on countries, in particular on Germany, is based on an erroneous… JEL classification : E58 E63 F36 G01
166 21/03/2014	Article	REF 113 Central Banks Crises and challenges The Challenges for Central Banks after the Crisis Free access Patrick ARTUS The recent crisis will undoubtedly change central bank behaviour for a long time. Before the crisis, they managed short-term interest rates and looked after being credible in case… JEL classification : E52 E58 G18
167 06/12/2013	Article	REF 112 The European banking system (2) New Perspectives What Have We Learned from the Financial Crisis? Free access Erkki LIIKANEN The relationship between monetary policy and financial stability is reciprocal: financial stability will facilitate successful monetary policy and vice versa. There is now a… JEL classification : E58 F36 G01 G21 G28
168 06/12/2013	Article	REF 112 The European banking system (2) New Perspectives Financial Instrument Valuation in European Banks between 2009 and 2011: Market Value or Model Value? Free access Dominique DUFOUR Grégory HEEM When financial markets are no more active, as in 2008, the question of fair value valuation techniques becomes crucial. IFRS 7 specifies a three-level hierarchy for fair value… JEL classification : G01 G12 G21 G28 M41
169 06/12/2013	Article	REF 112 The European banking system (2) New Perspectives Universal Banks: Successful, yet Under Threat Free access Jan SCHILDBACH Bernhard SPEYER Universal banks are the predominant model of banking in Europe. Under the umbrella of the term “universal banking”, a wide variety of different models co-exist. What is common to… JEL classification : G01 G21
170 06/12/2013	Article	REF 112 The European banking system (2) New Perspectives Banks: What Business Model in the Aftermath of the Crisis? Free access Sylvie MATHERAT The crisis that started in 2008 has not impacted the banks equally and did not reveal any optimal business model. In particular, the liquidity crisis triggered by the downward… JEL classification : G01 G21 G28
171 06/12/2013	Article	REF 112 The European banking system (2) New Perspectives Cross-Border Retail Banking: Exploring the Unknown Financial Globalization in Times of Financial Crises Free access Stefanie KLEIMEIER Harald SANDER The surge in cross-border banking prior to the 2007/08 global financial crisis took place not only in the interbank market but also in the retail market, e.g. between banks and… JEL classification : F30 G01 G15 G21
172 30/09/2013	Article	REF 111 The European banking system (1) State of play Germany’s Banking Sector Free access Guillaume GILQUIN Although Germany’s banking sector has experienced a wave of consolidation, especially since the financial crisis, the country is still home to a high number of banking… JEL classification : G01 G21 G28
173 30/09/2013	Article	REF 111 The European banking system (1) State of play The Negative Feedback Loop between Banks and Sovereigns Free access Paolo ANGELINI Giuseppe GRANDE Fabio PANETTA More than three years since the outbreak of the sovereign debt crisis in the euro area, the banking systems of several countries remain exposed to the vagaries of government bond… JEL classification : E44 E58 E62 G01 G21 G28 H63
174 30/09/2013	Article	REF 111 The European banking system (1) State of play The Italian Banking Industry: Through Structural Transformations and Economic Recession Free access Giovanni AJASSA Since 2008 the Italian economy has been battered by the most severe and prolonged period of crisis since Second World War. The country, given the high public debt, had no choice… JEL classification : G01 G21 G28
175 30/09/2013	Article	REF 111 The European banking system (1) State of play The Future of Sovereign Borrowing in a Changing European Banking Landscape: Drivers, Links and Feedbacks Free access Hans J. BLOMMESTEIN The changing landscape for European banks influences the future of sovereign borrowing and vice versa. The fates of banks and sovereigns are intertwined, including by toxic… JEL classification : E44 E58 E62 F34 G01 G21 G28 H63
176 30/09/2013	Article	REF 111 The European banking system (1) State of play The Spanish Banking System: From the Mirage to the Disaster Free access Jésus CASTILLO The harsh shock that the Spanish banking system has undergone recently can not be understood without a brief look at the historical background and the factors that have modelled… JEL classification : G01 G21 G28
177 30/09/2013	Article	REF 111 The European banking system (1) State of play The New Regulatory Paradigm and the Economic Uncertainties Put the UK Banks to the Test Free access Laurent NAHMIAS The UK banks continued to be affected by both a weak internal business environment in 2012 and the risk of new housing market corrections. Badly shaken by the financial crisis,… JEL classification : G01 G21 G28
178 30/09/2013	Article	REF 111 The European banking system (1) State of play The Impact of Credit Rating Announcements on European Listed Companies: A Comparison Before and During the 2008 Financial Crisis Free access Ali DARDOUR This paper focuses on differences of reaction of common stock returns to rating announcements for 231 exchange-listed European companies before and during the 2008 financial… JEL classification : G14 G24
179 14/06/2013	Article	REF 110 Mergers and acquisitions - 50 years of African monetary unions - Property crises and financial crises High Frequency Trading: Market Footprint and Policy Implications Free access Luc GOUPIL High Frequency Trading (HFT) refers to investment strategies where algorithms simultaneously handle data extraction and analysis and portfolio updating at an ever-increasing pace,… JEL classification : G10 G23 G28
180 14/06/2013	Article	REF 110 Mergers and acquisitions - 50 years of African monetary unions - Property crises and financial crises Mergers-Acquisitions and Allocational Efficiency Free access Éric de BODT Jean-Gabriel COUSIN Gaël IMAD'EDDINE Since mergers and acquisitions (M&A) are publicly observable and require a significant amount of acquirer resources, they tend to attract the academic community attention. Do M&As… JEL classification : G14 G34 K21