sanctions, and part - and not the smallest one - is caused by the European Central Bank's printing money by hook or by crook in … European Central Bank. …

bank to keep the nominal interest rate equal to zero (forward guidance) after a financial turmoil. Beyond that optimal …

pronounced in weaker parts of the Eurozone, with the resulting flight to quality further depressing rate levels, especially for … negative returns. For the Eurozone as a whole, just over 50 percent of sovereign debt is traded at negative yields. This …

Are critics' concerns for bank profitability a justification for the European Central Bank to raise interest rates from … monetary and regulatory policy upon departure from the ZLB. Rather than supporting bank profits, higher interest rates depress …

The 1990s and early 2000s witnessed an unprecedented increase in central bank transparency around the world, yet there … has been little empirical work that convincingly demonstrates any economic benefits of increased central bank transparency …

This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank …

euro area firms allow studying the determinants of the external finance premium at the country, bank, firm, and contract … variance. The rest is predominantly attributed to variances at the bank and firm levels, which are influenced by the respective …

The financing structure of the euro area economy has evolved since the global financial crisis with non-bank financial … intermediation taking a more prominent role. This shift affects the transmission of monetary policy. Compared with banks, non-bank … the euro area, which is still highly reliant on bank loans. Amid a low interest rate environment, the growth of market …