Evolution of the impact of the interest rates changes announced by Narodowy Bank Polski (NBP) on the financial markets in the high, medium and low level of interest rates environments in Poland
Author
Abstract
Suggested Citation
Note: This research project was conducted under the VIII NBP open competition for research projects and was financed by Narodowy Bank Polski. This paper represents the opinions of the authors. It is not meant to represent the position of the NBP. Any errors and omissions are the fault of the authors.
Download full text from publisher
References listed on IDEAS
- Jonathan H. Wright, 2012.
"What does Monetary Policy do to Long‐term Interest Rates at the Zero Lower Bound?,"
Economic Journal, Royal Economic Society, vol. 122(564), pages 447-466, November.
- Jonathan H. Wright, 2011. "What does Monetary Policy do to Long-Term Interest Rates at the Zero Lower Bound?," NBER Working Papers 17154, National Bureau of Economic Research, Inc.
- Wongswan, Jon, 2009.
"The response of global equity indexes to U.S. monetary policy announcements,"
Journal of International Money and Finance, Elsevier, vol. 28(2), pages 344-365, March.
- Jon Wongswan, 2005. "The response of global equity indexes to U.S. monetary policy announcements," International Finance Discussion Papers 844, Board of Governors of the Federal Reserve System (U.S.).
- Wu, Wenbin, 2016. "Are financial markets less responsive to monetary policy shocks at the zero lower bound?," Economics Letters, Elsevier, vol. 145(C), pages 258-261.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Gu, Chen & Kurov, Alexander & Wolfe, Marketa Halova, 2018. "Relief Rallies after FOMC Announcements as a Resolution of Uncertainty," Journal of Empirical Finance, Elsevier, vol. 49(C), pages 1-18.
- Jonathan Kearns & Andreas Schrimpf & Fan Dora Xia, 2023.
"Explaining Monetary Spillovers: The Matrix Reloaded,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(6), pages 1535-1568, September.
- Jonathan Kearns & Andreas Schrimpf & Dora Xia, 2018. "Explaining Monetary Spillovers: The Matrix Reloaded," BIS Working Papers 757, Bank for International Settlements.
- Schrimpf, Paul & Kearns, Jonathan & XIA, Fan Dora, 2020. "Explaining Monetary Spillovers: The Matrix Reloaded," CEPR Discussion Papers 15006, C.E.P.R. Discussion Papers.
- Jonathan Kearns & Andreas Schrimpf & Fan Dora Xia, 2019. "Explaining Monetary Spillovers: The Matrix Reloaded," RBA Research Discussion Papers rdp2019-03, Reserve Bank of Australia.
- Ali Ozdagli, 2013. "Not so fast: high-frequency financial data for macroeconomic event studies," Working Papers 13-19, Federal Reserve Bank of Boston.
- King, Thomas B., 2019.
"Expectation and duration at the effective lower bound,"
Journal of Financial Economics, Elsevier, vol. 134(3), pages 736-760.
- Thomas B. King, 2016. "Expectation and Duration at the Effective Lower Bound," Working Paper Series WP-2016-21, Federal Reserve Bank of Chicago.
- Siami-Namini, Sima & Hudson, Darren & Trindade, A. Alexandre & Lyford, Conrad, 2018.
"Commodity Prices, Monetary Policy and the Taylor Rule,"
2018 Annual Meeting, February 2-6, 2018, Jacksonville, Florida
266719, Southern Agricultural Economics Association.
- Siami-Namini, Sima & Hudson, Darren & Trindade, A. Alexandre & Lyford, Conrad, 2018. "Commodity Prices, Monetary Policy and the Taylor Rule," 2018 Annual Meeting, February 2-6, 2018, Jacksonville, Florida 266722, Southern Agricultural Economics Association.
- Lloyd, S. P., 2017. "Unconventional Monetary Policy and the Interest Rate Channel: Signalling and Portfolio Rebalancing," Cambridge Working Papers in Economics 1735, Faculty of Economics, University of Cambridge.
- Marfatia, Hardik A., 2015. "Monetary policy's time-varying impact on the US bond markets: Role of financial stress and risks," The North American Journal of Economics and Finance, Elsevier, vol. 34(C), pages 103-123.
- Miescu, Mirela & Rossi, Raffaele, 2021.
"COVID-19-induced shocks and uncertainty,"
European Economic Review, Elsevier, vol. 139(C).
- Mirela Miescu & Raffaele Rossi, 2020. "COVID-19-Induced Shocks and Uncertainty," Economics Discussion Paper Series 2013, Economics, The University of Manchester, revised Aug 2021.
- Jinjarak, Yothin, 2014. "Equity prices and financial globalization," International Review of Financial Analysis, Elsevier, vol. 33(C), pages 49-57.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015.
"The QE experience : Worth a try ?,"
Post-Print
hal-03459951, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience: worth a try?," SciencePo Working papers Main hal-03470201, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience: Worth a try?," Sciences Po publications info:hdl:2441/76n8jifalu9, Sciences Po.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience: worth a try?," Sciences Po publications info:hdl:2441/4qb2og10r48, Sciences Po.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience: worth a try?," Working Papers hal-03470201, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience : Worth a try ?," SciencePo Working papers Main hal-03459951, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience: Worth a try?," Post-Print hal-03568216, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience: Worth a try?," SciencePo Working papers Main hal-03568216, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "The QE experience : Worth a try ?," Sciences Po publications info:hdl:2441/166ip2fse39, Sciences Po.
- Kerstin Bernoth & Marcel Fratzscher & Philipp König, 2014. "Schwache Preisentwicklung und Deflationsgefahr im Euroraum: Grenzen der konventionellen Geldpolitik," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 81(12), pages 235-249.
- Abdoulaye Millogo, 2020. "Hysteresis Effects and Macroeconomics Gains from Unconventional Monetary Policies Stabilization," Cahiers de recherche 20-12, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
- İshak Demi̇r & Burak A. Eroğlu & Seçi̇l Yildirim‐Karaman, 2022.
"Heterogeneous Effects of Unconventional Monetary Policy on the Bond Yields across the Euro Area,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(5), pages 1425-1457, August.
- Demir, Ishak & Eroglu, Burak A. & Yildirim-Karaman, Secil, 2021. "Heterogeneous effects of unconventional monetary policy on bond yields across the euro area," LEAF Working Paper Series 19-06, University of Lincoln, Lincoln International Business School, Lincoln Economics and Finance Research Group (LEAF), revised 2021.
- Kitsul, Yuriy & Wright, Jonathan H., 2013.
"The economics of options-implied inflation probability density functions,"
Journal of Financial Economics, Elsevier, vol. 110(3), pages 696-711.
- Yuriy Kitsul & Jonathan H. Wright, 2012. "The Economics of Options-Implied Inflation Probability Density Functions," NBER Working Papers 18195, National Bureau of Economic Research, Inc.
- Yuriy Kitsul & Jonathan H. Wright, 2012. "The Economics of Options-Implied Inflation Probability Density Functions," Economics Working Paper Archive 600, The Johns Hopkins University,Department of Economics.
- Jonathan Wright & Yuriy Kitsul, 2012. "The Economics of Options-Implied Inflation Probability Density Functions," 2012 Meeting Papers 174, Society for Economic Dynamics.
- Ben Omrane, Walid & Hussain, Syed Mujahid, 2016. "Foreign news and the structure of co-movement in European equity markets: An intraday analysis," Research in International Business and Finance, Elsevier, vol. 37(C), pages 572-582.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2020.
"The role of ECB monetary policy and financial stress on Eurozone sovereign yields,"
Empirical Economics, Springer, vol. 59(3), pages 1189-1211, September.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2019. "The role of ECB monetary policy and financial stress on Eurozone sovereign yields," Post-Print hal-03403623, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2020. "The role of ECB monetary policy and financial stress on Eurozone sovereign yields," Post-Print hal-02160378, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2019. "The role of ECB monetary policy and financial stress on Eurozone sovereign yields," SciencePo Working papers Main hal-03403623, HAL.
- Marcel Fratzscher & Marco Lo Duca & Roland Straub, 2018.
"On the International Spillovers of US Quantitative Easing,"
Economic Journal, Royal Economic Society, vol. 128(608), pages 330-377, February.
- Fratzscher, Marcel & Straub, Roland & Lo Duca, Marco, 2013. "On the international spillovers of US quantitative easing," Working Paper Series 1557, European Central Bank.
- Marcel Fratzscher & Marco Lo Duca & Roland Straub, 2013. "On the International Spillovers of US Quantitative Easing," Discussion Papers of DIW Berlin 1304, DIW Berlin, German Institute for Economic Research.
- Marcel Fratzscher & Marco Lo Duca & Roland Straub, 2015. "On the International Spillovers of US Quantitative Easing," IMES Discussion Paper Series 15-E-07, Institute for Monetary and Economic Studies, Bank of Japan.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015.
"Que peut-on attendre de l’assouplissement quantitatif de la BCE ?,"
Revue de l'OFCE, Presses de Sciences-Po, vol. 0(2), pages 265-290.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "Que peut-on attendre de l'assouplissement quantitatif de la BCE ?," Sciences Po publications info:hdl:2441/3t12lkolqm8, Sciences Po.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "Que peut-on attendre de l'assouplissement quantitatif de la BCE ?," Post-Print hal-03459898, HAL.
- Christophe Blot & Jérôme Creel & Paul Hubert & Fabien Labondance, 2015. "Que peut-on attendre de l'assouplissement quantitatif de la BCE ?," SciencePo Working papers Main hal-03459898, HAL.
- Filbien, Jean-Yves & Labondance, Fabien, 2013.
"Do financial markets learn from ECB monetary policy?,"
Economics Letters, Elsevier, vol. 120(2), pages 271-275.
- Jean-Yves Filbien & Fabien Labondance, 2013. "Do financial markets learn from ECB monetary policy?," Post-Print hal-04409584, HAL.
- Marcel Fratzscher, 2014. "Capital Flow Policies, Monetary Policy and Coordination," RBA Annual Conference Volume (Discontinued), in: Alexandra Heath & Matthew Read (ed.),Financial Flows and Infrastructure Financing, Reserve Bank of Australia.
More about this item
JEL classification:
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
- G1 - Financial Economics - - General Financial Markets
- F3 - International Economics - - International Finance
- C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MAC-2019-04-08 (Macroeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nbp:nbpmis:303. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jakub Growiec (email available below). General contact details of provider: https://edirc.repec.org/data/nbpgvpl.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.