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Central banks have been blamed for the negative side effects of the non-conventional monetary policy measures they have implemented since 2008. In this paper, we argue that central banks played a positive role in the money market and interbank liquidity recovery. Using novel, micro data of the...
Persistent link: https://www.econbiz.de/10011611275
This paper documents recent trends in international financial flows, based on a newly assembled dataset covering 40 advanced and emerging countries. It highlights four stylized facts: first, the "Great Retrenchment" that took place during the crisis has proved very persistent; second, this fall...
Persistent link: https://www.econbiz.de/10011504944