March 2011. They measure the additional central bank money that their corresponding National Central Banks (NCBs) have … additional central bank money that flowed to the euro core countries, Germany in particular, and crowded out the central bank …

an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting … sovereign bond purchases on secondary markets, a stable relationship between bank lending rates and government bond rates is of … this relationship by focusing on the reaction of bank lending rates to movements in government bond rates over the period …

safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting … sovereign bond purchases on secondary markets, a stable relationship between bank lending rates and government bond rates is of … this relationship by focusing on the reaction of bank lending rates to movements in government bond rates over the period …