We employ a time series econometric framework to explore the structural determinants of the spread between the European Overnight Rate and the ECB's Policy Rate (Euro Over Night Index Average (EONIA) spread) aiming to explain the widening of the EONIA spread from mid-2004 to mid-2006. In particular,
β¦ LIBER β¦
The Real Euro-sclerosis The ECB and the Natural Rate
β Scribed by Baimbridge, Mark ;Burkitt, Brian ;Whyman, Philip
- Book ID
- 108553945
- Publisher
- John Wiley and Sons
- Year
- 1999
- Tongue
- English
- Weight
- 335 KB
- Volume
- 6
- Category
- Article
- ISSN
- 1070-3535
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## Abstract This paper investigates how the dynamic adjustment of the European overnight rate Eonia to the term spread and the European Central Bank's (ECB's) policy rate is affected by rate expectations and the operational framework of the ECB. In line with recent evidence found for the US and Jap
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