Bouis, Romain; Rawdanowicz, Łukasz; Renne, Jean-Paul; … - Economics Department, Organisation de Coopération et … - 2013
policy interest rate cuts and unconventional policy measures to higher asset prices and lower cost of credit in and outside … the banking sector in most countries, with the exception of vulnerable euro area economies, monetary policy stimulus did … important headwinds. Third, the bank lending channel of monetary policy transmission appears to have been impaired, mainly due …