money market rate and the volumes traded at the ECB's deposit and lending facilities in response to the recent financial …

fears. In addition, the ECB appears to have been more effective in addressing liquidity risk since the onset of the crisis …

We examine the impact of the ECB's QE on Euro Area real GDP and core CPI with a Bayesian VAR, estimated on monthly data … and Wieladek (2016). We find that in absence of the first round of ECB QE, real GDP and core CPI would have been 1.3% and …

inverted with the onset of the financial crisis. To shed light on the underlying decision rule of the ECB, we rank different …

determine national representation in the top management of the ECB. Further, there is evidence for the existence of national … the core business areas of the ECB. Examining a sample of 14 European countries over the period from 1999 to 2008, we … macroeconomic data. Our results indicate that weights based on national representation in the mid-level management of the ECB's core …

I find that the Eurosystem can stimulate the economy beyond the policy rate by increasing the size of its balance sheet …. In contrast, the multiplier declines considerably after an expansion of the Eurosystem's balance sheet …

We estimate the effects of exogenous innovations to the balance sheet of the ECB since the start of the financial …

mechanism of the Eurosystem's credit support policies since the start of the crisis. First, we show that these policies have … responded more to the credit support policies of the Eurosystem as a result of more favourable size, retail and liquidity …