of the ECB have contributed to the persistence of intra-euro area current account imbalances. … euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels … of euro area central banks are identified. It is found that differing fiscal policy stances which have interacted …

of the ECB have contributed to the persistence of intra-euro area current account imbalances … euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels … of euro area central banks are identified. It is found that differing fiscal policy stances which have interacted …

play a highly controversial role given the institutional flaws in the euro area …, at a high rate of interest. In the wake of the 2007/8 financial crisis and ongoing euro debt crisis, both the US Federal … central banks were responding too, rather than the classic idiosyncratic LoLR role. In the case of the ECB, it was forced to …

crisis. As a lender of last resort via the long-term refinancing operations (LTROs), the European Central Bank (ECB) improved … contrast, the ECB's announcement of being a potential buyer of last resort via the Outright Monetary Transaction (OMT) program …

of the ECB have contributed to the persistence of intra-euro area current account imbalances. … euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels … of euro area central banks are identified. It is found that differing fiscal policy stances which have interacted …

of the ECB have contributed to the persistence of intra-euro area current account imbalances. … euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels … of euro area central banks are identified. It is found that differing fiscal policy stances which have interacted …

Are central bank tools effective in reaching non-banks with no access to the lender-of-last-resort facilities? Using …

Are central bank tools effective in reaching non-banks with no access to the lender-of-last-resort facilities? Using …

(i) by being lender of last resort to banks via the long-term refinancing operations (LTRO), ECB temporarily reduced … that followed – lender of last resort vs. buyer of last resort – in stabilizing the European financial sector. We find that …, precipitating a run on their short-term debt. We assess the effectiveness of different European Central Bank (ECB) interventions …