Abstract The exceptional measures by central banks during the financial crisis have led to renewed interest in the redistributive effects of monetary policy. This paper adopts the perspective of central bank balance sheets to assess such effects. It uses information from the euro area National...

On 1 January 1981, banks and savings and loans in the United States started to compete nationwide for chequing account deposits. Prior to this date, in areas outside the New England region, banks and credit unions were the only institutions allowed to offer transaction accounts. A study carried...