The dynamic relationship between the Euro overnight rate, the ECB´s policy rate and the term spread

dc.creator	Offermanns, Christian J.
dc.creator	Nautz, Dieter
dc.date	2006
dc.date.accessioned	2013-10-16T07:05:59Z
dc.date.available	2013-10-16T07:05:59Z
dc.date.issued	2013-10-16
dc.identifier	http://hdl.handle.net/10419/19629
dc.identifier	ppn:507599284
dc.identifier	RePEc:zbw:bubdp1:4238
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/19629
dc.description	This paper investigates how the dynamic adjustment of the European overnight rate Eonia to the term spread and the ECB's policy rate has been affected by rate expectations and the operational framework of the ECB. In line with recent evidence found for the US and Japan, the reaction of the Eonia to the term spread is non-symmetric. Moreover, the response of the Eonia to the policy rate depends on both, the repo auction format and the position of the Eonia in the ECB's interest rate corridor.
dc.language	eng
dc.relation	Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2006,01
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject	E43
dc.subject	E52
dc.subject	ddc:330
dc.subject	Monetary Policy Implementation
dc.subject	Term Structure of Interest Rates
dc.subject	Nonlinear Cointegration
dc.subject	Zinspolitik
dc.subject	Wirtschaftspolitische Wirkungsanalyse
dc.subject	Zinsstruktur
dc.subject	Europäische Wirtschafts- und Währungsunion
dc.subject	EU-Staaten
dc.title	The dynamic relationship between the Euro overnight rate, the ECB´s policy rate and the term spread
dc.type	doc-type:workingPaper

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