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Non-standard monetary policy measures and monetary developments
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Cited by:
- Martin Feldkircher & Thomas Gruber & Florian Huber, 2017.
"Spreading the word or reducing the term spread? Assessing spillovers from euro area monetary policy,"
Department of Economics Working Papers
wuwp248, Vienna University of Economics and Business, Department of Economics.
- Feldkircher, Martin & Gruber, Thomas & Huber, Florian, 2017. "Spreading the word or reducing the term spread? Assessing spillovers from euro area monetary policy," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168111, Verein für Socialpolitik / German Economic Association.
- Martin, Feldkircher & Thomas, Gruber & Florian, Huber, 2019. "International effects of a compression of euro area yield curves," Working Papers in Economics 2019-1, University of Salzburg.
- Feldkircher, Martin & Gruber, Thomas & Huber, Florian, 2017. "Spreading the word or reducing the term spread? Assessing spillovers from euro area monetary policy," Department of Economics Working Paper Series 248, WU Vienna University of Economics and Business.
- Marcel Fratzscher & Malte Rieth, 2019.
"Monetary Policy, Bank Bailouts and the Sovereign-Bank Risk Nexus in the Euro Area,"
Review of Finance, European Finance Association, vol. 23(4), pages 745-775.
- Fratzscher, Marcel & Rieth, Malte, 2019. "Monetary Policy, Bank Bailouts and the Sovereign-Bank Risk Nexus in the Euro Area," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 23(4), pages 745-775.
- Rieth, Malte & Fratzscher, Marcel, 2014. "Monetary policy, bank bailouts and the sovereign-bank risk nexus in the euro area," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100277, Verein für Socialpolitik / German Economic Association.
- Fratzscher, Marcel & Rieth, Malte, 2015. "Monetary policy, bank bailouts and the sovereign-bank risk nexus in the euro area," CEPR Discussion Papers 10370, C.E.P.R. Discussion Papers.
- Marcel Fratzscher & Malte Rieth, 2015. "Monetary Policy, Bank Bailouts and the Sovereign-Bank Risk Nexus in the Euro Area," European Economy - Discussion Papers 009, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- Marcel Fratzscher & Malte Rieth, 2015. "Monetary Policy, Bank Bailouts and the Sovereign-Bank Risk Nexus in the Euro Area," Discussion Papers of DIW Berlin 1448, DIW Berlin, German Institute for Economic Research.
- De Santis, Roberto A. & Favero, Carlo A. & Roffia, Barbara, 2013.
"Euro area money demand and international portfolio allocation: A contribution to assessing risks to price stability,"
Journal of International Money and Finance, Elsevier, vol. 32(C), pages 377-404.
- De Santis, Roberto A. & Favero, Carlo A. & Roffia, Barbara, 2008. "Euro area money demand and international portfolio allocation: a contribution to assessing risks to price stability," Working Paper Series 926, European Central Bank.
- Favero, Carlo A. & De Santis, Roberto A & Roffia, Barbara, 2012. "Euro Area Money Demand and International Portfolio Allocation: A Contribution to Assessing Risks to Price Stability," CEPR Discussion Papers 8957, C.E.P.R. Discussion Papers.
- Roberto A. De Santis & Carlo A. Favero & Barbara Roffia, 2012. "Euro Area Money Demand and International Portfolio Allocation: A Contribution to Assessing Risks to Price Stability," Working Papers 432, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Altavilla, Carlo & Boucinha, Miguel & Peydró, José-Luis, 2018.
"Monetary policy and bank profitability in a low interest rate environment,"
EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 33(96), pages 531-586.
- Carlo Altavilla & Miguel Boucinha & José-Luis Peydró & Thorsten BeckManaging Editor, 2018. "Monetary policy and bank profitability in a low interest rate environment," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 33(96), pages 531-586.
- Altavilla, Carlo & Boucinha, Miguel & Peydró, José-Luis, 2017. "Monetary policy and bank profitability in a low interest rate environment," Working Paper Series 2105, European Central Bank.
- Carlo Altavilla & Miguel Boucinha & José-Luis Peydró, 2019. "Monetary Policy and Bank Profitability in a Low Interest Rate Environment," Working Papers 1101, Barcelona School of Economics.
- Carlo Altavilla & Miguel Boucinha & José-Luis Peydró, 2017. "Monetary policy and bank profitability in a low interest rate environment," Economics Working Papers 1655, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2018.
- Carlo Altavilla & Miguel Boucinha & José-Luis Peydró, 2017. "Monetary Policy and Bank Profitability in a Low Interest Rate Environment," CSEF Working Papers 486, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Hashem Pesaran, M. & Smith, Ron P., 2016.
"Counterfactual analysis in macroeconometrics: An empirical investigation into the effects of quantitative easing,"
Research in Economics, Elsevier, vol. 70(2), pages 262-280.
- Pesaran, M. Hashem & Smith, Ron P., 2012. "Counterfactual Analysis in Macroeconometrics: An Empirical Investigation into the Effects of Quantitative Easing," IZA Discussion Papers 6618, Institute of Labor Economics (IZA).
- M. Hashem Pesaran & Ron P Smith, 2014. "Counterfactual Analysis in Macroeconometrics: An Empirical Investigation into the Effects of Quantitative Easing," Birkbeck Working Papers in Economics and Finance 1406, Birkbeck, Department of Economics, Mathematics & Statistics.
- M. Hashem Pesaran & Ron P. Smith, 2012. "Counterfactual Analysis in Macroeconometrics: An Empirical Investigation into the Effects of Quantitative Easing," CESifo Working Paper Series 3879, CESifo.
- M. Hashem Pesaran & Ron P. Smith, 2012. "Counterfactual Analysis in Macroeconometrics: An Empirical Investigation into the Effects of Quantitative Easing," Working Paper series 37_12, Rimini Centre for Economic Analysis.
- Bank for International Settlements, 2016. "Expanding the boundaries of monetary policy in Asia and the Pacific," BIS Papers, Bank for International Settlements, number 88.
- A Durré & H Pill, 2012.
"Central Bank balance sheets as policy tools,"
BIS Papers chapters, in: Bank for International Settlements (ed.), Are central bank balance sheets in Asia too large?, volume 66, pages 193-213,
Bank for International Settlements.
- A. Durre & H. Pill, 2012. "Central bank balance sheets as policy tools," Post-Print hal-00787196, HAL.
- Francisco Serranito & Philipp RODERWEIS & Jamel Saadaoui, 2023.
"Is Quantitative Easing Productive? The Role of Bank Lending in the Monetary Transmission Process,"
EconomiX Working Papers
2023-17, University of Paris Nanterre, EconomiX.
- Philipp Roderweis & Jamel Saadaoui & Francisco Serranito, 2023. "Is Quantitative Easing Productive? The Role of Bank Lending in the Monetary Transmission Process," Working Papers hal-04159825, HAL.
- Marco Casiraghi & Eugenio Gaiotti & Lisa Rodano & Alessandro Secchi, 2013. "The impact of unconventional monetary policy on the Italian economy during the sovereign debt crisis," Questioni di Economia e Finanza (Occasional Papers) 203, Bank of Italy, Economic Research and International Relations Area.
- David Cobham & Yue Kang, 2012.
"Financial Crisis And Quantitative Easing: Can Broad Money Tell Us Anything?,"
Manchester School, University of Manchester, vol. 80, pages 54-76, September.
- David Cobham & Yue Kang, 2012. "Financial crisis and quantitative easing: can broad money tell us anything?," Heriot-Watt University Economics Discussion Papers 1206, Department of Economics, School of Management and Languages, Heriot Watt University.
- Cobham, David & Kang, Yue, 2012. "Financial crisis and quantitative easing: can broad money tell us anything?," SIRE Discussion Papers 2012-55, Scottish Institute for Research in Economics (SIRE).
- Abbassi, Puriya & Linzert, Tobias, 2012.
"The effectiveness of monetary policy in steering money market rates during the financial crisis,"
Journal of Macroeconomics, Elsevier, vol. 34(4), pages 945-954.
- Abbassi, Puriya & Linzert, Tobias, 2012. "The effectiveness of monetary policy in steering money market rates during the financial crisis," Discussion Papers 14/2012, Deutsche Bundesbank.
- Giulia RIVOLTA, 2014. "An Event Study Analysis of ECB Unconventional Monetary Policy," Departmental Working Papers 2014-02, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Brini, Alessio & Tedeschi, Gabriele & Tantari, Daniele, 2023.
"Reinforcement learning policy recommendation for interbank network stability,"
Journal of Financial Stability, Elsevier, vol. 67(C).
- Alessio Brini & Gabriele Tedeschi & Daniele Tantari, 2022. "Reinforcement Learning Policy Recommendation for Interbank Network Stability," Papers 2204.07134, arXiv.org, revised May 2023.
- Recchioni, Maria Cristina & Tedeschi, Gabriele, 2017. "From bond yield to macroeconomic instability: A parsimonious affine model," European Journal of Operational Research, Elsevier, vol. 262(3), pages 1116-1135.
- Anindya Banerjee & Victor Bystrov & Paul Mizen, 2017.
"Structural Factor Analysis of Interest Rate Pass Through In Four Large Euro Area Economies,"
Working Papers in Economics
17/07, University of Canterbury, Department of Economics and Finance.
- Anindya Banerjee & Victor Bystrov & Paul Mizen, 2019. "Structural Factor Analysis of Interest Rate Pass Through in Four Large Euro Area Economies," Lodz Economics Working Papers 1/2019, University of Lodz, Faculty of Economics and Sociology.
- Falagiarda, Matteo & Reitz, Stefan, 2013. "Announcements of ECB unconventional programs: Implications for the sovereign risk of Italy," Kiel Working Papers 1866, Kiel Institute for the World Economy (IfW Kiel).
- Falagiarda, Matteo & Reitz, Stefan, 2015. "Announcements of ECB unconventional programs: Implications for the sovereign spreads of stressed euro area countries," Journal of International Money and Finance, Elsevier, vol. 53(C), pages 276-295.
- Renne, Jean-Paul, 2016. "A tractable interest rate model with explicit monetary policy rates," European Journal of Operational Research, Elsevier, vol. 251(3), pages 873-887.
- Arnold, Ivo J.M. & Soederhuizen, Beau, 2018. "Bank stability and refinancing operations during the crisis: Which way causality?," Research in International Business and Finance, Elsevier, vol. 43(C), pages 79-89.
- Ricco, Giovanni & Callegari, Giovanni & Cimadomo, Jacopo, 2014. "Signals from the Government: Policy Uncertainty and the Transmission of Fiscal Shocks," MPRA Paper 56136, University Library of Munich, Germany.
- Stephanos Papadamou & Eleftherios Spyromitros & Nikolaos A. Kyriazis, 2018. "Quantitative easing effects on commercial bank liability and government yields in UK: A threshold cointegration approach," International Economics and Economic Policy, Springer, vol. 15(2), pages 353-371, April.
- Milošević Andriana & Jemović Mirjana, 2017. "Non-Standard Measures of the Monetary Policy – Mechanism for Overcoming Problems in the Implementation of the Neoliberal Concept of Monetary Policy During a Financial Crisis," Economic Themes, Sciendo, vol. 55(4), pages 465-480, December.
- Villa, Stefania, 2013. "Financial frictions in the euro area: a Bayesian assessment," Working Paper Series 1521, European Central Bank.
- Sophocles N. Brissimis & Eugenie N. Garganas & Stephen G. Hall, 2014.
"Consumer credit in an era of financial liberalization: an overreaction to repressed demand?,"
Applied Economics, Taylor & Francis Journals, vol. 46(2), pages 139-152, January.
- Brissimis, Sophocles N. & Garganas, Eugenie N. & Hall, Stephen G., 2012. "Consumer credit in an era of financial liberalisation: An overreaction to repressed demand?," MPRA Paper 41819, University Library of Munich, Germany.
- Sophocles Brissimis & Eugenie Garganas & Stephen G. Hall, 2012. "Consumer credit in an era of financial liberalisation: an overreaction to repressed demand?," Working Papers 148, Bank of Greece.
- Carlo Altavilla & Domenico Giannone & Michele Lenza, 2016.
"The Financial and Macroeconomic Effects of the OMT Announcements,"
International Journal of Central Banking, International Journal of Central Banking, vol. 12(3), pages 29-57, September.
- Michele Lenza, 2015. "The financial and macroeconomic effects of OMT announcements," Research Bulletin, European Central Bank, vol. 22, pages 12-16.
- Carlo Altavilla & Domenico Giannone & Michele Lenza, 2014. "The Financial and Macroeconomic Effects of the OMT Announcements," CSEF Working Papers 352, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Giannone, Domenico & Altavilla, Carlo & Lenza, Michele, 2014. "The financial and macroeconomic effects of OMT announcements," Working Paper Series 1707, European Central Bank.
- Giannone, Domenico & Lenza, Michele & Altavilla, Carlo, 2014. "The Financial and Macroeconomic Effects of OMT Announcements," CEPR Discussion Papers 10025, C.E.P.R. Discussion Papers.
- Carlo Altavilla & Domenico Giannone & Michèle Lenza, 2014. "The Financial and Macroeconomic Effects of OMT Announcements," Working Papers ECARES ECARES 2014-31, ULB -- Universite Libre de Bruxelles.
- Hau, Harald & Lai, Sandy, 2016.
"Asset allocation and monetary policy: Evidence from the eurozone,"
Journal of Financial Economics, Elsevier, vol. 120(2), pages 309-329.
- Hau, Harald & Lai, Sandy, 2013. "Asset Allocation and Monetary Policy: Evidence from the Eurozone," CEPR Discussion Papers 9581, C.E.P.R. Discussion Papers.
- Harald Hau & Sandy Lai, 2013. "Asset Allocation and Monetary Policy: Evidence from the Eurozone," Swiss Finance Institute Research Paper Series 13-39, Swiss Finance Institute, revised Dec 2018.
- Harald Hau & Sandy Lai, 2014. "Asset Allocation and Monetary Policy: Evidence from the Eurozone," CESifo Working Paper Series 5005, CESifo.
- Harald Hau & Sandy Lai, 2013. "Asset Allocation and Monetary Policy: Evidence from the Eurozone," Working Papers 222013, Hong Kong Institute for Monetary Research.
- Reichlin, Lucrezia, 2014.
"Monetary Policy and Banks in the Euro Area: The Tale of Two Crises,"
Journal of Macroeconomics, Elsevier, vol. 39(PB), pages 387-400.
- Lucrezia Reichlin, 2013. "Monetary policy and banks in the euro area: the tale of two crises," Special Conference Papers 26, Bank of Greece.
- Schuknecht, Ludger, 2019.
"Fiscal-financial vulnerabilities,"
SAFE White Paper Series
62, Leibniz Institute for Financial Research SAFE.
- Ludger Schuknecht, 2019. "Fiscal-Financial Vulnerabilities," CESifo Working Paper Series 7776, CESifo.
- Yılmaz, Derya, 2015. "Unconventional Monetary Policies in the Eurozone: Considering Theoretical Backgrounds and Policy Outcomes," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 6(3), pages 51-68, July.
- repec:pra:mprapa:40579 is not listed on IDEAS
- Kotaro Ishi & Mr. Kenji Fujita & Mr. Mark R. Stone, 2011. "Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit? a Review of the Experience so Far," IMF Working Papers 2011/145, International Monetary Fund.
- A. Durre & F. Drudi & F.P. Mongelli, 2012.
"The interplay of economic reforms and monetary policy: the case of the euro area,"
Post-Print
hal-00787189, HAL.
- Drudi, Francesco & Durré, Alain & Mongelli, Francesco Paolo, 2012. "The interplay of economic reforms and monetary policy: the case of the euro area," Working Paper Series 1467, European Central Bank.
- Afanasyeva, Elena, 2013. "Atypical behavior of credit: Evidence from a monetary VAR," IMFS Working Paper Series 70, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Lubomira Gertler, 2015. "Interactions of Unconventional Monetary Policy Measures with the Euro Area Yield Curve," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 65(2), pages 106-126, March.
- Maciej Ryczkowski, 2015. "Is deflation trap a serious threat? Case study of FED, ECB and NBP," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 14(2), pages 243-259, June.
- Đorđe Đukić & Mališa Đukić, 2011. "The Influence of Interbank Money Market Stress Levels on Credit Markets During the Postcrisis Period in US And Euro Area," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 56(189), pages 7-26, April – J.
- John H. Rogers & Chiara Scotti & Jonathan H. Wright, 2014. "Evaluating Asset-Market Effects of Unconventional Monetary Policy: A Cross-Country Comparison," International Finance Discussion Papers 1101, Board of Governors of the Federal Reserve System (U.S.).
- Domenico Giannone & Michele Lenza & Huw Pill & Lucrezia Reichlin, 2012.
"The ECB and the Interbank Market,"
Economic Journal, Royal Economic Society, vol. 122(564), pages 467-486, November.
- Domenico Giannone & Michèle Lenza & Huw Pill & Lucrezia Reichlin, 2012. "The ECB and the Interbank Market," Working Papers ECARES ECARES 2012-005, ULB -- Universite Libre de Bruxelles.
- Giannone, Domenico & Reichlin, Lucrezia & Lenza, Michele, 2012. "The ECB and the interbank market," Working Paper Series 1496, European Central Bank.
- Reichlin, Lucrezia & Pill, Huw & Giannone, Domenico & Lenza, Michele, 2012. "The ECB and the Interbank Market," CEPR Discussion Papers 8844, C.E.P.R. Discussion Papers.
- António Afonso & António Jorge Silva, 2014. "The Monetary Transmission Mechanism in the Euro Area: has it changed with the EMU? A VAR approach, with fiscal policy and financial stress considerations," Working Papers Department of Economics 2014/10, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
- Marco Casiraghi & Eugenio Gaiotti & Lisa Rodano & Alessandro Secchi, 2016. "ECB Unconventional Monetary Policy and the Italian Economy during the Sovereign Debt Crisis," International Journal of Central Banking, International Journal of Central Banking, vol. 12(2), pages 269-315, June.
- Martina Cecioni & Giuseppe Ferrero & Alessandro Secchi, 2018.
"Unconventional Monetary Policy in Theory and in Practice,"
World Scientific Book Chapters, in: Douglas D Evanoff & George G Kaufman & A G Malliaris (ed.), Innovative Federal Reserve Policies During the Great Financial Crisis, chapter 1, pages 1-36,
World Scientific Publishing Co. Pte. Ltd..
- Martina Cecioni & Giuseppe Ferrero & Alessandro Secchi, 2011. "Unconventional Monetary Policy in Theory and in Practice," Questioni di Economia e Finanza (Occasional Papers) 102, Bank of Italy, Economic Research and International Relations Area.
- Jean-Claude Trichet, 2013. "Unconventional Monetary Policy Measures: Principles-Conditions-Raison d’etre," International Journal of Central Banking, International Journal of Central Banking, vol. 9(1), pages 229-250, January.
- Christian Glocker & Pascal Towbin, 2012.
"The Macroeconomic Effects of Reserve Requirements,"
WIFO Working Papers
420, WIFO.
- Christian Glocker & Pascal Towbin, 2012. "The Macroeconomic Effects Of Reserve Requirements," EcoMod2012 3850, EcoMod.
- Glocker, Ch. & Towbin P., 2012. "The Macroeconomic Effects of Reserve Requirements," Working papers 374, Banque de France.
- Reichlin, Lucrezia, 2013. "The ECB and the banks: the tale of two crises," CEPR Discussion Papers 9647, C.E.P.R. Discussion Papers.
- Feldkircher, Martin & Gruber, Thomas & Huber, Florian, 2020.
"International effects of a compression of euro area yield curves,"
Journal of Banking & Finance, Elsevier, vol. 113(C).
- Martin, Feldkircher & Thomas, Gruber & Florian, Huber, 2019. "International effects of a compression of euro area yield curves," Working Papers in Economics 2019-1, University of Salzburg.
- Burriel, Pablo & Galesi, Alessandro, 2018.
"Uncovering the heterogeneous effects of ECB unconventional monetary policies across euro area countries,"
European Economic Review, Elsevier, vol. 101(C), pages 210-229.
- Pablo Burriel & Alessandro Galesi, 2016. "Uncovering the heterogeneous effects of ecb unconventional monetary policies across euro area countries," Working Papers 1631, Banco de España.
- Alexandros Skouralis, 2023. "The Role of Systemic Risk Spillovers in the Transmission of Euro Area Monetary Policy," Open Economies Review, Springer, vol. 34(5), pages 1079-1106, November.
- Michael Joyce & David Miles & Andrew Scott & Dimitri Vayanos, 2012. "Quantitative Easing and Unconventional Monetary Policy – an Introduction," Economic Journal, Royal Economic Society, vol. 122(564), pages 271-288, November.
- Maciej Ryczkowski, 2015. "Ewolucja pogladow Miltona Friedmana, a ocena polityki pienieznej Fed i EBC w okresie kryzysu finansowego," Working Papers 168/2015, Institute of Economic Research, revised Dec 2015.
- Paul Mizen, 2016. "Comments on "Financial globalisation and monetary independence"," BIS Papers chapters, in: Bank for International Settlements (ed.), Expanding the boundaries of monetary policy in Asia and the Pacific, volume 88, pages 227-230, Bank for International Settlements.
- Qianying Chen & Andrew Filardo & Dong He & Feng Zhu, 2012. "International spillovers of central bank balance sheet policies," BIS Papers chapters, in: Bank for International Settlements (ed.), Are central bank balance sheets in Asia too large?, volume 66, pages 220-264, Bank for International Settlements.
- Hlebik Sviatlana & Verga Giovanni, 2015. "The European Central Bank Quantitative Policy and Its Consistency with the Demand for Liquidity," Scientific Annals of Economics and Business, Sciendo, vol. 62(3), pages 425-451, November.
- Domenico Giannone & Michèle Lenza & Lucrezia Reichlin, 2012.
"Money, Credit, Monetary Policy and the Business Cycle in the Euro Area,"
Working Papers ECARES
ECARES 2012-008, ULB -- Universite Libre de Bruxelles.
- Reichlin, Lucrezia & Giannone, Domenico & Lenza, Michele, 2012. "Money, credit, monetary policy and the business cycle in the euro area," CEPR Discussion Papers 8944, C.E.P.R. Discussion Papers.
- Aristei, David & Gallo, Manuela, 2014.
"Interest rate pass-through in the Euro area during the financial crisis: A multivariate regime-switching approach,"
Journal of Policy Modeling, Elsevier, vol. 36(2), pages 273-295.
- David ARISTEI & Manuela Gallo, 2012. "Interest Rate Pass-Through in the Euro Area during the Financial Crisis: a Multivariate Regime-Switching Approach," Quaderni del Dipartimento di Economia, Finanza e Statistica 107/2012, Università di Perugia, Dipartimento Economia.
- Kristóf Lehmann & Róbert Mátrai & György Pulai, 2013. "Measures taken by the Federal Reserve System and the European Central Bank during the crisis," MNB Bulletin (discontinued), Magyar Nemzeti Bank (Central Bank of Hungary), vol. 8(Special), pages 98-107, October.
- Leila Simona TALANI, 2014. "The Political Economy of Italy in the EMU: What Went Wrong?," Journal of Economics and Political Economy, KSP Journals, vol. 1(2), pages 133-149, December.
- Maria Cristina Recchioni & Gabriele Tedeschi, 2016. "From bond yield to macroeconomic instability: The effect of negative interest rates," Working Papers 2016/06, Economics Department, Universitat Jaume I, Castellón (Spain).