, operates mainly through the credit channel, both the bank lending and the non-financial borrower balance-sheet channel. Our … results suggest that the bank-lending channel has been partly mitigated by the ECB nonstandard monetary policy interventions …

This paper analyses the potential roles of bank asset fire sales and recourse to central bank credit to ensure banks …' funding liquidity and solvency. Both asset liquidity and central bank haircuts are modelled as power functions within the unit … interval. Funding stability is captured as strategic bank run game in pure strategies between depositors. Asset liquidity, the …

A growing number of studies have sought to measure the effects of non-standard policy on bank funding markets. The … purpose of this paper is to carry those estimates a step further by looking at the effects of bank funding market stress on … the volume of bank lending, using a simultaneous equation approach. By separately modeling loan supply and demand, we …

European Central Bank and the Federal Reserve Bank of New York. The paper is the result of a collaborative effort between staff …

, within a closed system of financial accounts. We analyze how the elasticity of liquidity provision by a central bank depends … on the international monetary regime in which the relevant country operates and on specific central bank policies like … central bank that operates under a paper standard with a flexible exchange rate and without a monetary financing prohibition …