Showing 1 - 5 of 5
Persistent link: https://www.econbiz.de/10011437574
Central banks typically control an overnight interest rate as their policy tool, and the transmission of monetary policy happens through the relationship of this overnight rate to the rest of the yield curve. The expectations hypothesis, that longer-term rates should equal expected future...
Persistent link: https://www.econbiz.de/10013124991
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...
Persistent link: https://www.econbiz.de/10013078758
Persistent link: https://www.econbiz.de/10011867292
During the 2007-2010 financial crisis, central banks accumulated a vast amount of experience in acting as lender of last resort. This paper reviews the various ways that central banks provided emergency liquidity assistance (ELA) during the crisis, and discusses issues for the design of ELA...
Persistent link: https://www.econbiz.de/10013031123