The bitcoin halving happens only once every four years. tungtaechit/ShutterstockBitcoin, the largest and most talked about digital asset, has been on a rollercoaster of a ride since its launch in January 2009.
Serafin Grundl and Jacob GramlichThe U.S. banking industry is well suited to assess the common ownership hypothesis (COH), because thousands of private banks without common ownership (CO) compete with hundreds of public banks with high and increasing levels of CO. This paper assesses the COH in the banking industry using more comprehensive ownership data than previous studies.
The American state has lost the capacity for concentrated and decisive effort at the forefront of technology and the associated science.
A Metron Analysis poll for Mega TV suggests that dissatisfaction with the government’s record in a number of policy areas is high but, nevertheless, New Democracy has started to reverse some of the recent losses it has suffered.
Greece’s industrial turnover remained in growth in February, rising by 3.1 percent year-on-year (YoY) from a 3.1 percent increase in January, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday.
Greece’s current account recorded a deficit of 3.16 billion euros in February, from a surplus of 1.7 billion euros in January, Bank of Greece (BoG) data showed on Friday.
The evidence suggests that monetary policy transmission is asymmetric over the business cycle. Interacting financing frictions with a preference for liquidity provides an explanation for this fact. Our mechanism generates monetary asymmetries in a model that jointly reproduces a set of asset market and business cycle facts. Accounting for the joint dynamics of asset prices and business cycle fluctuations is key; in a variant of the model that is unable to produce realistic macro-finance implications, monetary asymmetries disappear.
This study provides new evidence on the relationship between unconventional monetary policy and auction cycles in the euro area. Using proprietary data on purchases of public sector securities implemented by the Eurosystem, the paper examines the flow effects of asset purchase programmes on 10-year government bond yields in secondary markets around dates of public debt auctions. The findings indicate that Eurosystem’s asset purchase flows mitigate yield cycles during auction periods and counteract the amplification impact of market volatility.
The evidence suggests that monetary policy transmission is asymmetric over the business cycle. Interacting financing frictions with a preference for liquidity provides an explanation for this fact. Our mechanism generates monetary asymmetries in a model that jointly reproduces a set of asset market and business cycle facts. Accounting for the joint dynamics of asset prices and business cycle fluctuations is key; in a variant of the model that is unable to produce realistic macro-finance implications, monetary asymmetries disappear.
This study provides new evidence on the relationship between unconventional monetary policy and auction cycles in the euro area. Using proprietary data on purchases of public sector securities implemented by the Eurosystem, the paper examines the flow effects of asset purchase programmes on 10-year government bond yields in secondary markets around dates of public debt auctions. The findings indicate that Eurosystem’s asset purchase flows mitigate yield cycles during auction periods and counteract the amplification impact of market volatility.
