In the onset of the COVID-19 crisis, central banks purchased large volumes of assets in an effort to keep markets …, central banks can maximize welfare by purchasing assets at a premium, though they may create market distortions. Alternatively …, central banks who bear costs associated with large interventions may only be willing to purchase assets at a discount. In the …

switch banks. …

borrowers' and banks' payoffs, (ii) the implications of dynamic versus static settings for mergerstudies, and (iii) the impacts …