The True Nature of the Portfolio Balance Channel of Quantitative Easing Policy
This paper analyses the effects of the ECB´s Public sector purchase programme (PSPP) on portfolios of the Eurozone investors. The ECB claims that the PSPP works mainly through the portfolio balance channel when the conditions on the asset markets are ...
Jakl Jakub
doaj +1 more source
On the effectiveness of the European Central Bank's conventional and unconventional policies under uncertainty [PDF]
In this paper, we investigate the effectiveness of conventional and unconventional monetary policy measures by the European Central Bank (ECB) conditional on the prevailing level of uncertainty. To obtain exogenous variation in central bank policy, we rely on high-frequency surprises in financial market data for the euro area (EA) around policy ...
arxiv
Physical parameters and emission mechanism in Gamma-Ray Bursts
Detailed information on the physical parameters in the sources of cosmological Gamma-Ray Bursts (GRBs) is obtained from few plausible assumptions consistent with observations.
Akerlof+26 more
core +2 more sources
Economic Crisis and Growth in Vote Share for Extreme Left and Extreme Right Parties
Economic hardship fuels worries about a possible higher share of extremist parties in European legislature and executive. The article examines whether the recent economic recession resulted in growth in electoral support for the extreme right and the ...
Doležalová Jitka
doaj +1 more source
Interaction of a magnetized shell with an ambient medium: limits on impulsive magnetic acceleration
The interaction of relativistic magnetized ejecta with an ambient medium is studied for a range of structures and magnetization of the unshocked ejecta. We particularly focus on the effect of the ambient medium on the dynamics of an impulsive, high-sigma
Amir Levinson+8 more
core +1 more source
The article analyses the communication of the National Bank of Poland (NBP) one year after the announcement of the crisis response package adopted after the outbreak of the COVID pandemic.
Voloshchenko-Holda Lada+1 more
doaj +1 more source
Is Central Banks’ Effectiveness Related to their Transparency? A Case of European Economies
This article presents a novel transparency measure and examines forward-looking transparency of six European central banks. It aims at evaluating whether the higher degree of transparency is related to better economic stabilization expressed in terms of ...
Szyszko Magdalena, Próchniak Mariusz
doaj +1 more source
Generators of simple modular Lie superalgebras
Let $X$ be one of the finite-dimensional simple graded Lie superalgebras of Cartan type $W, S, H, K, HO, KO, SHO$ or $SKO$ over an algebraically closed field of characteristic $p>3$.
Kuranishi M.+3 more
core +1 more source
The dynamic impact of monetary policy on regional housing prices in the US: Evidence based on factor-augmented vector autoregressions [PDF]
In this study interest centers on regional differences in the response of housing prices to monetary policy shocks in the US. We address this issue by analyzing monthly home price data for metropolitan regions using a factor-augmented vector autoregression (FAVAR) model.
arxiv
Bayesian state-space modeling for analyzing heterogeneous network effects of US monetary policy [PDF]
Understanding disaggregate channels in the transmission of monetary policy is of crucial importance for effectively implementing policy measures. We extend the empirical econometric literature on the role of production networks in the propagation of shocks along two dimensions.
arxiv