performance. Our theoretical analysis focuses on bank incentives to manage bad loans. We show that interventions involving bank … perspective, in particular how do they affect recession duration? We find that bank restructuring, which includes bank … but smaller. Blanket guarantees on bank liabilities and monetary policy do not have a significant effect. …

turn, would require the central bank to rethink its monetary policy to the extent that traditional relationships between … transmission mechanism in a 'new economy' environment. We argue that, although the form of central bank instruments and current …

realistic central bank transfersand the dynamics of bond holdings. …

yields in Germany, France, Italy and Spain have been affected by monetary policy measures of the European Central Bank. We …

circumstances. The model, which measures additional bank capital required to compensate for fluctuating credit risk, is a novel …