The European Central Bank (ECB) took many measures to combat the eurozone's rolling financial crisis. For providing … desperately scarce dollars to eurozone banks, the ECB relied on the U.S. Federal Reserve. Using a novel econometric framework, we … October 2009 and September 2012, the most intense phase of the eurozone crisis. Dollar liquidity clearly reduced stress in …

This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank … replaced national collateral lists with a single list specifying which assets euro area banks can pledge as collateral. Banks … harmonized collateral framework facilitates cross-border lending to borrowing-constrained firms and, thereby, increases financial …

This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank … replaced national collateral lists with a single list specifying which assets euro area banks can pledge as collateral. Banks … harmonized collateral framework facilitates cross-border lending to borrowing-constrained firms and, thereby, increases financial …

This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank … replaced national collateral lists with a single list specifying which assets euro area banks can pledge as collateral. Banks … harmonized collateral framework facilitates cross-border lending to borrowing-constrained firms and, thereby, increases financial …

comprehensive data set, we show that the market is resilient during crisis episodes and may even act as a shock absorber, in the … different repo markets shows that anonymous CCP-based trading, safe collateral, and the absence of an unwind mechanism are the …

The paper analyses in light of Austrian and Keynesian economic theory the impact of conventional and unconventional …