Lending effects of the ECB’s asset purchases
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DOI: 10.1016/j.jmoneco.2019.08.019
Abstract: Abstract Between 2010 and 2012, the European Central Bank absorbed €218 billion worth of government securities from five EMU countries under the Securities Markets Programme (SMP). Detailed security holdings data at the bank level affirms… read more here.
Keywords: ecb asset; effects ecb; asset purchases; lending effects ... See more keywords
International Spillovers of Large-Scale Asset Purchases
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DOI: 10.1093/jeea/jvy053
Abstract: This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using an estimated two-country dynamic stochastic general-equilibrium model with nominal and real rigidities and portfolio balance effects. Portfolio balance effects arise from imperfect… read more here.
Keywords: portfolio balance; asset purchases; asset; large scale ... See more keywords