Lenza, Michele; Pill, Huw; Reichlin, Lucrezia - European Central Bank - 2010
This paper describes the response of three central banks to the 2007-09 financial crisis: the European Central Bank … so-called "non-standard" monetary policy measures focusing on those introduced in the euro area in the aftermath of the … market spreads, we propose an empirical exercise intended to quantify the macroeconomic impact of non-standard monetary …