| bibtype |
J -
Journal Article
|
| ARLID |
0478988 |
| utime |
20240103214619.6 |
| mtime |
20171005235959.9 |
| SCOPUS |
85020275708 |
| WOS |
000450617300005 |
| DOI |
10.1080/17487870.2017.1330686 |
| title
(primary) (eng) |
Financial market fragmentation and monetary transmission in the euro area: what do we know? |
| specification |
| page_count |
16 s. |
| media_type |
P |
|
| serial |
| ARLID |
cav_un_epca*0327728 |
| ISSN |
1748-7870 |
| title
|
Journal of Economic Policy Reform |
| volume_id |
21 |
| volume |
4 (2018) |
| page_num |
319-334 |
| publisher |
|
|
| keyword |
financial market fragmentation |
| keyword |
monetary transmission |
| keyword |
European Central Bank |
| author
(primary) |
| ARLID |
cav_un_auth*0274257 |
| full_dept (cz) |
Ekonometrie |
| full_dept (eng) |
Department of Econometrics |
| department (cz) |
E |
| department (eng) |
E |
| full_dept |
Department of Econometrics |
| name1 |
Horváth |
| name2 |
Roman |
| institution |
UTIA-B |
| fullinstit |
Ústav teorie informace a automatizace AV ČR, v. v. i. |
|
| source |
|
| cas_special |
| project |
| project_id |
GA16-09190S |
| agency |
GA ČR |
| ARLID |
cav_un_auth*0345306 |
|
| abstract
(eng) |
We provide a survey on the literature examining financial market fragmentation in the euro area and discuss the policy options how to reduce it. The fragmentation has increased markedly since the outbreak of the global financial crisis in 2007. It declined somewhat from late 2012 onwards, but is still above the pre-crisis level. Interest rate pass-through has become less efficient primarily because of increased mark-ups and, to a certain extent, the lower responsiveness of bank interest rates to policy rates. The effectiveness of interest rate pass-through has become more heterogeneous across euro area countries, making a common monetary policy more difficult. The unconventional monetary policy conducted by the European Central Bank has reduced financial market fragmentation notably, however, this policy was not without side effects. Enhancing financial and fiscal stability in the euro area is key for the efficient functioning of the monetary transmission mechanism. |
| result_subspec |
WOS |
| RIV |
AH |
| FORD0 |
50000 |
| FORD1 |
50200 |
| FORD2 |
50201 |
| reportyear |
2019 |
| num_of_auth |
1 |
| inst_support |
RVO:67985556 |
| permalink |
http://hdl.handle.net/11104/0275488 |
| cooperation |
| ARLID |
cav_un_auth*0308136 |
| name |
Univerzita Karlova v Praze, Fakulta sociálních věd |
| institution |
FSV UK |
| country |
CZ |
|
| confidential |
S |
| mrcbC86 |
2 Article Development Studies|Economics |
| mrcbT16-e |
DEVELOPMENTSTUDIES|ECONOMICS |
| mrcbT16-j |
0.509 |
| mrcbT16-s |
0.730 |
| mrcbT16-B |
32.758 |
| mrcbT16-D |
Q3 |
| mrcbT16-E |
Q1 |
| arlyear |
2018 |
| mrcbU14 |
85020275708 SCOPUS |
| mrcbU24 |
PUBMED |
| mrcbU34 |
000450617300005 WOS |
| mrcbU63 |
cav_un_epca*0327728 Journal of Economic Policy Reform 1748-7870 1748-7889 Roč. 21 č. 4 2018 319 334 Routledge |
|