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The impact of quantitative easing on bank loan supply and monetary policy implementation in the euro area

Horst, Maximilian; Neyer, Ulrike - 2019

excess reserves, implying a structural liquidity surplus in the euro area banking sector. Against this background, the first … part of this paper analyses the Eurosystem's liquidity management during normal times, crisis times and times of too low in … banks operate under a structural liquidity surplus. The model shows that increasing excess reserves have no or even a …

Persistent link: https://www.econbiz.de/10012099037

The impact of quantitative easing on bank loan supply and monetary policy implementation in the euro area

Horst, Maximilian; Neyer, Ulrike - In: Review of economics 70 (2019) 3, pp. 229-265

Persistent link: https://www.econbiz.de/10012197394

The impact of the Federal Reserve's Large-Scale Asset Purchase programs on corporate credit risk

Gilchrist, Simon; Zakrajšek, Egon - In: Journal of money, credit and banking : JMCB 45 (2013), pp. 29-57

Persistent link: https://www.econbiz.de/10010344557

The impact of macroeconomic and monetary policy shocks on credit risk in the euro area corporate sector

Lo Duca, Marco; Moccero, Diego; Parlapiano, Fabio - 2024

We analyse the impact of macroeconomic and monetary policy shocks on corporate credit risk as measured by firms' probabilities of default (PDs) for the four largest euro area countries. We estimate the impact of shocks on one-year PDs using local projections (LP). For the period 2014-19, we find...

Persistent link: https://www.econbiz.de/10014484468

Policy rules for inflation targeting

Rudebusch, Glenn D.; Svensson, Lars E. O. - 1998

Persistent link: https://www.econbiz.de/10000662501

Inflation targeting and nonlinear policy rules : the case of asymmetric preferences : presented at CESifo Venice Summer Institute, Workshop on the Revival of Aggregate Demand Manag...

Surico, Paolo - 2004

This paper investigates the empirical relevance of a new framework for monetary policy analysis in which the decision-makers are allowed to weight differently positive and negative deviations of inflation and output from the target values. Reduced-form and structural estimates of the central...

Persistent link: https://www.econbiz.de/10011450850