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
Evaluating the Macroeconomic Effects of the ECB's Unconventional Monetary Policies
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DOI: 10.1111/jmcb.12628
Abstract: We quantify the macroeconomic effects of the European Central Bank’s unconventional monetary policies using a DSGE model which includes a set of shadow interest rates. Extracted from the yield curve, these shadow rates provide unconstrained… read more here.
Keywords: monetary policies; macroeconomic effects; evaluating macroeconomic; unconventional monetary ... See more keywords