Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/242274 
Erscheinungsjahr: 
2019
Quellenangabe: 
[Journal:] European Financial and Accounting Journal [ISSN:] 1805-4846 [Volume:] 14 [Issue:] 3 [Publisher:] University of Economics, Faculty of Finance and Accounting [Place:] Prague [Year:] 2019 [Pages:] 5-24
Verlag: 
University of Economics, Faculty of Finance and Accounting, Prague
Zusammenfassung: 
Following the latest subprime crisis, central banks introduced several unconventional instruments which had spillover effects on foreign exchange rates. The aim of our paper is to explore whether the use of zero lower bound (ZLB) and unconventional instruments has an impact on the changes in foreign exchange rates. By running dynamic panel regressions, we analysed this issue on a sample of 7 European central banks. Based on our 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.
Schlagwörter: 
Interest Rate Parity
Unconventional Monetary Policy
Panel Regression
JEL: 
E52
E58
E43
C33
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
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