struggling to escape liquidity quicksands and stubbornly low or negative growth and employment trends. At the center of the … monetary policy pivot point. Since November 2011, the ECB has taken on an arguably activist liquidity-provider role relative to … integration. In December 2011, the ECB made clear its intention to inject massive liquidity when faced with crises of scale in …

such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the …

intensively, with the main objective of providing liquidity to the banking system, but also as a tool for aggregate demand …

substantial quantities of liquidity into the financial system and seen their balance sheets expand to multiples of GDP. We outline …'s budget constraint. We briefly outline the recent experience with QE and draw a distinction between liquidity and …

dated government bonds with borrowed central bank reserves and so has increased the liquidity of the non-bank financial … liquidity premium embedded in long term bonds and/or (ii) adopting countercyclical subsidies to bank capital able and/or (iii …