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  1. The role of other financial intermediaries in monetary and credit developments in the euro area
    Beteiligt: Moutot, Philippe Pierre (HerausgeberIn); Gerdesmeier, Dieter (MitwirkendeR); Lojschová, Adriana (MitwirkendeR); Landesberger, Julian von (MitwirkendeR)
    Erschienen: [2007]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    Monetary growth has increased significantly in the euro area in recent years, raising concerns about the risks to price stability. Viewed from a sectoral perspective, this increase reflects to a large extent the deposit holdings of other financial... mehr

    Staats- und Universitätsbibliothek Bremen
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 535 (75)
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    Monetary growth has increased significantly in the euro area in recent years, raising concerns about the risks to price stability. Viewed from a sectoral perspective, this increase reflects to a large extent the deposit holdings of other financial intermediaries (OFIs). This paper presents analytical work on the role of OFIs in monetary and credit developments in the euro area. Although, at the moment, some shortcomings in the data available – such as the lack of long time series data – seriously limit the analysis of the role of OFIs in monetary and credit aggregates, it seems clear that OFIs have gained considerable importance in recent years, not only as a factor affecting monetary developments, but also for the functioning of the financial system. This gain in importance may be due to financial deregulation and liberalisation, as well as financial innovation. These developments are reflected in the integration and deepening of euro area financial markets, as well as in investors’ attitude to risk.

     

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    Beteiligt: Moutot, Philippe Pierre (HerausgeberIn); Gerdesmeier, Dieter (MitwirkendeR); Lojschová, Adriana (MitwirkendeR); Landesberger, Julian von (MitwirkendeR)
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/154528
    RVK Klassifikation: QM 430
    Schriftenreihe: Occassional paper series / European Central Bank ; no 75 (October 2007)
    Schlagworte: Finanzintermediation; Geldmarkt; Kredittheorie; Eurozone; EU-Staaten
    Umfang: 1 Online-Ressource (circa 62 Seiten), Illustrationen
  2. Impact of TLTRO III on bank lending: the Slovak experience
    Erschienen: 2023
    Verlag:  National Bank of Slovakia, Bratislava

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: NSB Working paper / National Bank of Slovakia ; 2023,2
    Schlagworte: monetary policy; targeted longer-term refinancing operations; credit supply; carry trade; difference-in-difference; propensity score matching
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  3. Estimating the impact of the Balassa-Samuelson effect in transition economies
    Erschienen: 2003
    Verlag:  IHS, Wien

    The Balassa-Samuelson (BS) effect is usually considered as the prime explanation of the continuous real exchange rate appreciation of the central and east European (CEE) transition countries against their western European counterparts. This paper... mehr

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 387 (140)
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    The Balassa-Samuelson (BS) effect is usually considered as the prime explanation of the continuous real exchange rate appreciation of the central and east European (CEE) transition countries against their western European counterparts. This paper tries to explain relative price differentials observed over the past decade between four CEE economies - Slovakia, the Czech Republic, Hungary and Poland - and Euro area in terms of productivity growth differentials. Using panel estimation techniques, we find strong empirical evidence in favour of the BS hypothesis. Furthermore, relaxing some of the assumptions (i.e. PPP holds for tradable goods) results in little support of BS hypothesis. Our estimates of the BS term suggest that the Balassa-Samuelson effect in these 4 CEE countries does not have to be as sizeable as other studies propose. -- Balassa-Samuelson effect ; Purchasing Power Parity (PPP) ; real exchange rate appreciation ; transition economies

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/71235
    Schriftenreihe: Reihe Ökonomie / Institut für Höhere Studien ; 140
    Schlagworte: Balassa-Samuelson-Effekt; Kaufkraftparität; Abwertung; Transformationsstaaten; Tschechien; Polen; Ungarn
    Umfang: Online-Ressource (35 S.), graph. Darst.