We examine the credit channel of monetary policy from 2000 to 2015 in the Euro Area using daily monetary policy shock and credit risk measures in an autoregressive distributed lag model. We find that an expansionary monetary policy shock leads to a .
This research seminar is jointly organized with the Collaborative Research Center TRR 190 „Rationality and Competition“
Facebook announced the introduction of a "New Global Digital Payment Coin" called Libra for the first half of 2020 to enable foremost payment services in "WhatsApp" and "Facebook Messenger". Libra is built on a distributed ledger technology (DLT) ...
We study a sovereign debt crisis in a small member state of a currency union. If the country exits the currency union, it may redenominate its liabilities and reduce the real value of debt through depreciation and inflation. We analyze formally how .
We analyse the first twenty years of the euro both from an economic and an institutional perspective. We find that in particular during the period since the financial crisis, convergence as measured by a variety of indicators has not improved. Design