Illing, Gerhard; König, Philipp Johann - In: DIW Economic Bulletin 4 (2014) 9, pp. 16-28
In the wake of the recent European debt crisis, the European Central Bank (ECB) has grown significantly in importance. As the crisis worsened, the ECB needed to take measures that went far beyond standard monetary policy operations - particularly with respect to its function as lender of last...
