Devizaárfolyam modellezés nemkonvencionális monetáris politika vitele mellett : az európai jegybankok sajátosságai

Mészáros, Mercédesz: Devizaárfolyam modellezés nemkonvencionális monetáris politika vitele mellett : az európai jegybankok sajátosságai. Móra Akadémia, (7). pp. 32-51. (2019)

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Abstract

Following the latest subprime crisis, central banks introduced several unconventional instruments which had spillover effects on foreign exchange rates. The aim of this paper was to explore whether the use of ZLB and these unconventional instruments had an impact on the changes in foreign exchange rates. By running dynamic panel regressions, I analyzed this in on a sample of 6 European central banks. Based on my results, unconventional monetary policy had a significant impact on the exchange rate fluctuations in the short term, even with the use of instruments where there was no targeted exchange rate regulation, such as QE and liquidity-providing loan programs.

Item Type: Article
Other title: Exchange rate modelling under unconventional monetary policy : the case of European central banks
Journal or Publication Title: Móra Akadémia
Date: 2019
Volume: 7
Page Range: pp. 32-51
ISSN: 2064-809X
Heading title: Gazdaságtudomány
Uncontrolled Keywords: Pénzügyi politika, Jegybank - Európa
Additional Information: Bibliogr.: p. 47-50. és a lábjegyzetekben ; összefoglalás angol nyelven
Date Deposited: 2019. Nov. 13. 11:07
Last Modified: 2019. Nov. 13. 11:07
URI: http://acta.bibl.u-szeged.hu/id/eprint/62345

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