1,409
Views
25
CrossRef citations to date
0
Altmetric
Original Articles

International spillovers of ECB’s unconventional monetary policy: the effect on Central Europe

&

References

  • Allen, F., K. Jackowicz, and O. Kowalewski. 2013. “The Effects of Foreign and Government Ownership on Bank Lending Behavior During a Crisis in Central and Eastern Europe.” MPRA Paper 48059, University Library of Munich, Germany.
  • Babecká-Kucharčuková, O., P. Claeys, and B. Vašíček. 2016. “Spillover of the Ecb’s Mone- Tary Policy outside the Euro Area: How Different is Conventional from Unconventional Policy?” Journal of Policy Modeling 38 (2): 199–225. doi:10.1016/j.jpolmod.2016.02.002.
  • Bauer, M. D., and C. J. Neely. 2014. “International Channels of the Fed’s Unconventional Monetary Policy.” Journal of International Money and Finance 44 (C): 24–46. doi:10.1016/j.jimonfin.2013.12.007.
  • Belke, A., A. Dobrzanska, D. Gros, and P. Smaga. 2016. “(When) Should a Non-Euro Country Join the Banking Union?” Ruhr Economic Papers 613, Universitat Duisburg-Essen.
  • Belke, A., D. Gros, and T. Osowski. 2016. “Did Quantitative Easing Affect Interest Rates Outside the US? New Evidence Based on Interest Rate Differentials.” CEPS Papers 11266, Centre for European Policy Studies.
  • Belke, A., and J. Klose. 2013. “Modifying Taylor Reaction Functions in the Presence of the Zero Lower Bound — Evidence for the ECB and the Fed.” Economic Modelling 35 (C): 515–527. doi:10.1016/j.econmod.2013.07.028.
  • Belke, A., and A. Rees. 2014. “Globalisation and Monetary Policy—A FAVAR Analysis for the G7 and the Eurozone.” The North American Journal of Economics and Finance 29 (C): 306–321. doi:10.1016/j.najef.2014.06.003.
  • Belke, A., and F. Verheyen. 2014. “The Low-Interest-Rate Environment, Global Liquidity Spill-overs and Challenges for Monetary Policy Ahead.” Comparative Economic Studies 56 (2): 313–334. doi:10.1057/ces.2014.14.
  • Bluwstein, K., and F. Canova. 2016. “Beggar-Thy-Neighbor? the International Effects of ECB Unconventional Monetary Policy Measures.” International Journal of Central Banking 12 (2): 69–120.
  • Boeckx, J., M. Dossche, and G. Peersman. 2016. “Effectiveness and Transmission of the ECB’s Balance Sheet Policies.” International Journal of Central Banking.
  • Borio, C., and P. Disyatat. 2010. “Unconventional Monetary Policies: An Appraisal.” Manchester School 78 (s1): 53–89. doi:10.1111/j.1467-9957.2010.02199.x.
  • Boubtane, E., D. Coulibaly, and C. Rault. 2013. “Immigration, Growth and Unemployment: Panel Var Evidence from Oecd Countries.” Labour 27 (4): 399–420. doi:10.1111/labr.2013.27.issue-4.
  • Bussiere, M., J. Fidrmuc, and B. Schnatz. 2008. “Eu Enlargement and Trade Integration: Lessons from a Gravity Model.” Review of Development Economics 12 (3): 562–576. doi:10.1111/j.1467-9361.2008.00472.x.
  • Cevik, N. K., S. Dibooglu, and A. M. Kutan. 2016. “Real and Financial Sector Studies in Central and Eastern Europe: A Review.” Czech Journal of Economics and Finance 66 (1): 2–31.
  • Chen, Q., A. Filardo, D. He, and F. Zhu. 2016. “Financial Crisis, US Unconventional Monetary Policy and International Spillovers.” Journal of International Money and Finance 67: 62–81. doi:10.1016/j.jimonfin.2015.06.011.
  • Chinn, M. D.. 2013. “Global Spillovers and Domestic Monetary Policy.” BIS Working Papers 436, Bank for International Settlements.
  • Dedola, L., P. Karadi, and G. Lombardo. 2013. “Global Implications of National Unconventional Policies.” Journal of Monetary Economics 60 (1): 66–85. doi:10.1016/j.jmoneco.2012.12.001.
  • Delivorias, A. 2015. “Will Quantitative Easing Revive the Euro Area Economy?.” In The ECB’s Expanded Asset Purchase Programme. European Parliamentary Research Service. http://www.europarl.europa.eu/EPRS/EPRS-Briefing-548976-The-ECBs-EAPP-FINAL.pdf.
  • Fong, T., K.-F. Li, and A. Sze. 2016. “Measuring Spillovers Between the US and Emerging Markets.” HKIMR Working Paper, Hong Kong Monetary Authority 8, Centre for European Policy Studies.
  • Fratzscher, M., M. L. Duca, and R. Straub. 2016. “On the International Spillovers of US Quantitative Easing.” Economic Journal.
  • Gambacorta, L., B. Hofmann, and G. Peersman. 2014. “The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound: A Cross-Country Analysis.” Journal of Money, Credit and Banking 46 (4): 615–642. doi:10.1111/jmcb.2014.46.issue-4.
  • Hajek, J., and R. Horvath. 2016. “The Spillover Effect of Euro Area on Central and Southeastern European Economies: A Global VAR Approach.” Open Economies Review 27 (2): 359–385. doi:10.1007/s11079-015-9378-4.
  • Horvath, R., and M. Rusnak. 2009. “How Important are Foreign Shocks in a Small Open Economy? The Case of Slovakia.” Global Economy Journal 9 (1): 1–17. doi:10.2202/1524-5861.1420.
  • Krippner, L.. 2013. “A Tractable Framework for Zero Lower Bound Gaussian Term Structure Models.” Reserve Bank of New Zealand Discussion Paper Series DP2013/02.
  • Lombardi, M. J., and F. Zhu. 2014. “A Shadow Policy Rate to Calibrate US Monetary Policy at the Zero Lower Bound.” BIS Working Papers 452.
  • Love, I., and L. Zicchino. 2006. “Financial Development and Dynamic Investment Behavior: Evidence from Panel Var.” The Quarterly Review of Economics and Finance 46 (2): 190–210. doi:10.1016/j.qref.2005.11.007.
  • Mackowiak, B. 2006. “How Much of the Macroeconomic Variation in Eastern Europe is Attributable to External Shocks?” Comparative Economic Studies 48 (3): 523–544. doi:10.1057/palgrave.ces.8100143.
  • Moessner, R. 2015. “Effects of Ecb Balance Sheet Policy Announcements on Inflation Expectations.” Applied Economics Letters 22: 483–487. doi:10.1080/13504851.2014.950791.
  • Mohanty, M. 2014. “The Transmission of Unconventional Monetary Policy to the Emerging Markets - an Overview.” In The Transmission of Uncon- Ventional Monetary Policy to the Emerging Markets, Volume 78 of BIS Papers Chapters. Basel: Bank for International Settlements.
  • Neely, C. J. 2015. “Unconventional Monetary Policy Had Large International Effects.” Journal of Banking & Finance 52 (C): 101–111. doi:10.1016/j.jbankfin.2014.11.019.
  • Peersman, G.. 2011. “Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area.” CESifo Working Paper Series 3589.
  • Potjagailo, G.. 2016. “Spillover Effects From Euro Area Monetary Policy Across the EU: A Factor- Augmented VAR Approach.” Kiel Working Papers 2033, Kiel Institute for the World Economy (IfW).
  • Rivolta, G.. 2014. “An Event Study Analysis of ECB Unconventional Monetary Policy.” Universita degli Studi di Milano Departmental Working Papers, 2014–02.
  • Schenkelberg, H., and S. Watzka. 2011. “Real Effects of Quantitative Easing at the Zero-Lower Bound: Structural Var-Based Evidence from Japan.” Cesifo working paper series no. 3486.
  • Thornton, D. L. 2014. “Has QE Been Effective?.” Federal Reserve Bank of St. Louis Economic Synopses (3): 1-2.
  • Westerlund, J. 2007. “Testing for Error Correction in Panel Data.” Oxford Bulletin of Economics and Statistics 69 (6): 709–748. doi:10.1111/obes.2007.69.issue-6.
  • Wu, J. C., and F. D. Xia. 2016. “Measuring the Macroeconomic Impact of Monetary Policy at the Zero Lower Bound.” Journal of Money, Credit and Banking 48 (2–3): 253–291. doi:10.1111/jmcb.2016.48.issue-2-3.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.