Arbeitspapier
Fragmentation in the euro overnight unsecured money market
This paper examines the degree of fragmentation in the Euro overnight unsecured money market during the period June 2008 – August 2013 using interbank loans constructed from payments data. After controlling for cross-country differences in bank risk, we document several episodes of significant market fragmentation. While non-standard measures such as the provision of long-term liquidity were successful in reducing tensions, considerable signs of market fragmentation remained at the end of the sample period.
- ISBN
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978-92-899-1495-6
- Language
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Englisch
- Bibliographic citation
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Series: ECB Working Paper ; No. 1755
- Classification
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Wirtschaft
- Subject
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Financial integration
monetary policy implementation
money markets
sovereign debt crisis
- Event
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Geistige Schöpfung
- (who)
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Garcia-de-Andoain, Carlos
Hoffmann, Peter
Manganelli, Simone
- Event
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Veröffentlichung
- (who)
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European Central Bank (ECB)
- (where)
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Frankfurt a. M.
- (when)
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2014
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Garcia-de-Andoain, Carlos
- Hoffmann, Peter
- Manganelli, Simone
- European Central Bank (ECB)
Time of origin
- 2014