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Zeitreihenanalyse zu den Target-Forderungen der Deutschen Bundesbank und mögliche Zusammenhänge mit der expansiven Geldpolitik der EZB

Author

Listed:
  • Nicole Storp
  • Tobias Kordsmeyer

Abstract

Nicole Storp und Tobias Kordsmeyer, Universität Göttingen, beschäftigen sich mit der dynamischen Entwicklung von Target-Salden der Deutschen Bundesbank. Im Zeitraum vom 1. Januar 1999 bis 31. Dezember 2018 stellen die Autoren drei starke Anstiege in den Target-Forderungen der Deutschen Bundesbank fest. Ihre Analyse zeigt, dass vermutlich die Turbulenzen auf dem europäischen Interbankenmarkt den ersten Anstieg verursacht haben, während die zwei weiterfolgenden Steigerungen durch die expansive Geldpolitik der Europäischen Zentralbank mitbegründet wurden.

Suggested Citation

  • Nicole Storp & Tobias Kordsmeyer, 2019. "Zeitreihenanalyse zu den Target-Forderungen der Deutschen Bundesbank und mögliche Zusammenhänge mit der expansiven Geldpolitik der EZB," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 72(06), pages 26-28, March.
    • Handle: RePEc:ces:ifosdt:v:72:y:2019:i:06:p:26-28
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    References listed on IDEAS

    as
    1. Caspi, Itamar, 2013. "Rtadf: Testing for Bubbles with EViews," MPRA Paper 58791, University Library of Munich, Germany, revised 06 Sep 2014.
    2. Peter C. B. Phillips & Shuping Shi & Jun Yu, 2014. "Specification Sensitivity in Right-Tailed Unit Root Testing for Explosive Behaviour," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 76(3), pages 315-333, June.
    3. Niklas Potrafke & Markus Reischmann, 2013. "Explosive Target Balances," CESifo Working Paper Series 4297, CESifo.
    4. Niklas Potrafke & Markus Reischmann, 2014. "Die Target-Forderungen der Deutschen Bundesbank: Eine Zeitreihenanalyse," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(14), pages 31-34, July.
    5. Hans-Werner Sinn, 2018. "Fast 1 000 Milliarden Target-Forderungen der Bundesbank: Was steckt dahinter?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(14), pages 26-37, July.
    6. Potrafke, Niklas & Reischmann, Markus, 2014. "Explosive Target balances of the German Bundesbank," Economic Modelling, Elsevier, vol. 42(C), pages 439-444.
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    Keywords

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    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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