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We estimate the effects of exogenous innovations to the balance sheet of the ECB since the start of the financial crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial markets, and has a positive impact on economic activity...
Persistent link: https://www.econbiz.de/10010383862
We use an original monthly dataset of 131 individual euro area banks to examine the effectiveness and transmission …
Persistent link: https://www.econbiz.de/10011646726