Ferrando, Annalisa; McAdam, Peter; Petroulakis, Filippos; … - 2021
be conditioned by the degree of market competition. We first identify conditions under which changes in marginal costs … competition setting. We then exploit changes in monetary policy to examine whether the pass-through of borrowing costs is affected … by market structure. First, we use as an experiment the announcement of the ECB Outright Monetary Transactions (OMT …