Ferrando, Annalisa; Grazzini, Caterina Forti - 2023
We provide new evidence on how ECB's monetary policy decisions affect firms' bank loan expectations in the euro area … monetary policy shocks. Our results are as follows. First, we find that firms' bank loan expectations react to monetary policy … expectations. Third, we observe that the different components of central bank communication (i.e. the pure monetary policy shock …