Download or read book Bond Markets and Long term Interest Rates in European Union Accession Countries written by and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Policy and Interest Rates in the European Union written by Klaas Knot and published by Edward Elgar Publishing. This book was released on 1996-01-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an extensive study concerned with the potential effects of fiscal policy on financial markets in the EU. It takes into account the gradual liberalization of capital movements through Western Europe & the framework of the European Monetary System.

Download or read book Why are Long term Interest Rates So High in Europe written by Agnès Belaisch and published by . This book was released on 1997 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Long term Interest Rates in Globalised Markets written by Hans Christiansen and published by . This book was released on 1997 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taux d'intérêt à long terme dans les Pays du Groupe des Dix.

Download or read book On Interest Rates and Asset Prices in Europe written by M. M. G. Fase and published by Edward Elgar Publishing. This book was released on 1999 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting 25 years of empirical research on interest rates and a variety of asset prices, this text aims to deepen understanding of asset price inflation. It includes an analysis of the measurement of interest rates, with case studies from The Netherlands, Belgium and EMU, and emphasizes statistical measurement and the attempt to understand interest rate behaviour through statistical estimation. The text also includes an examination of historical interest rate development in the long run, both theoretically and empirically. The behaviour of bonds, stocks, and investment in art are analyzed, as well as the factors indispensable for a monetary strategy designed to target inflation.

Download or read book The Low Interest Rate Policy of the European Central Bank Are European Savers being expropriated written by Heiko Schmolke and published by diplom.de. This book was released on 2017-03-16 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks around the world have lowered their key interest rates to historical lows and implemented large asset purchase programs in the past few years. Within the scientific and, most recently, also increasingly in the political debate, the nominal interest rate is mainly the subject of discussion. The question is often raised whether saving and retirement provision are still worthwhile for private households, especially in Germany. In this context it is often ignored or not considered that the purchasing power of the nominal interest rates fluctuates considerably with the inflation rate. Inflation-adjusted real interest rates are therefore decisive for the actual income from financial assets and crucial for the savings and investment behavior. This study, therefore, shall play ist part to investigate scientifically the influence and correlation of low and negative key interest rates on yield levels of selected asset classes within the sphere of influence of the European Central Bank. In this context, the mainly populist question is also answered whether savers are expropriated slowly.

Download or read book It is Only Natural Europe s Low Interest Rates written by Mr.Marco Arena and published by International Monetary Fund. This book was released on 2020-07-03 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Estimates of the natural interest rate are often useful in the analysis of monetary and other macroeconomic policies. The topic gathered much attention following the great financial crisis and the Euro Area debt crisis due to the uncertainty regarding the timing of monetary policy normalization and the future path of interest rates. Using a sample of European countries (including several members of the Euro Area), this paper provides estimates of country-specific natural interest rates and some of their drivers between 2000 and 2019. In line with the literature, our findings suggest that natural interest rates declined during this period, and despite a rebound in the last few years of it, they have not recovered to their pre-crisis levels. The paper also discusses the implications of the decline in natural interest rates for monetary conditions and debt sustainability.

Download or read book Bond Markets and Long term Interest Rates in Non euro Area Member States of the European Union and in Accession Countries written by and published by . This book was released on 2004 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Lower Bound Beliefs and Long Term Interest Rates written by Christian Grisse and published by International Monetary Fund. This book was released on 2017-03-22 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the transmission of changes in the believed location of the lower bound to longterm interest rates since the introduction of negative interest rate policies. The expectations hypothesis of the term structure combined with a lower bound on policy rates suggests that normal policy transmission is reduced when policy rates approach this lower bound. We show that if market participants revise downward the believed location of the lower bound, this may in itself reduce long-term yields. Moreover, normal policy transmission to long-term rates increases. A cross-country event study suggests that such effects have been empirically relevant during the recent negative interest rate episode.

Download or read book Negative Interest Rate Policy NIRP written by Andreas Jobst and published by International Monetary Fund. This book was released on 2016-08-10 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than two years ago the European Central Bank (ECB) adopted a negative interest rate policy (NIRP) to achieve its price stability objective. Negative interest rates have so far supported easier financial conditions and contributed to a modest expansion in credit, demonstrating that the zero lower bound is less binding than previously thought. However, interest rate cuts also weigh on bank profitability. Substantial rate cuts may at some point outweigh the benefits from higher asset values and stronger aggregate demand. Further monetary accommodation may need to rely more on credit easing and an expansion of the ECB’s balance sheet rather than substantial additional reductions in the policy rate.

Download or read book Long term Interest Rate Convergence in Europe and the Probability of EMU written by Ignazio Angeloni and published by . This book was released on 1998 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Determinants of long term interest rates in selected countries written by and published by . This book was released on 1993 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Determinants of Real Long Term Interest Rates in Europe written by Fatih Kaya and published by . This book was released on 2013 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several studies investigate the relationship between government debt/deficit ratios and the real long-term interest rates, but the empirical evidence is not conclusive enough for consensus building. Evidence for statistically weak or mixed association is as much as the evidence for a strong positive relationship, which means rising debt/deficit ratios are estimated to increase real yields. My research extends the existing literature by using a large panel of European countries covering the years 1990 and 2012. I find a very strong positive relationship between the debt to GDP ratio and real long-term interest rates in linear specifications. Quadratic specifications yield a U-curve structure in explaining the association between debt ratios and the real long-term yields, supporting evidence for a positive association once the debt ratio surpasses a threshold in the range of 49-54%.

Download or read book Long term Interest Rates in Europe written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Bank Profitability and Risk Taking written by Natalya Martynova and published by International Monetary Fund. This book was released on 2015-11-25 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional theory suggests that more profitable banks should have lower risk-taking incentives. Then why did many profitable banks choose to invest in untested financial instruments before the crisis, realizing significant losses? We attempt to reconcile theory and evidence. In our setup, banks are endowed with a fixed core business. They take risk by levering up to engage in risky ‘side activities’(such as market-based investments) alongside the core business. A more profitable core business allows a bank to borrow more and take side risks on a larger scale, offsetting lower incentives to take risk of given size. Consequently, more profitable banks may have higher risk-taking incentives. The framework is consistent with cross-sectional patterns of bank risk-taking in the run up to the recent financial crisis.

Download or read book Determinants of Real Long Term Interest Rates in Europe Is It A Fiscal Phenomena written by Fatih Kaya and published by . This book was released on 2013 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Key Words: General government debt, deficit, real long-term interest rates

Download or read book Is the Recent Increase in Long term Interest Rates a Threat to the Euro area Recovery written by Grégory Claeys and published by . This book was released on 2017 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The magnitude of the increase in long-term rates is still relatively modest and is mainly driven by good news. It does not represent a strong tightening of financial conditions, nor does it endanger public finances. The ECB should monitor the situation carefully but it should not be a major concern for the moment. Nevertheless, if in the future yields drift away from levels compatible with economic fundamentals, or threaten the European recovery and the return of inflation towards 2%, the ECB’s expanded toolbox could be used to influence the whole yield curve.