This paper contributes to the financial additionality literature and the literature on the bank lending view of the monetary policy by analyzing the impact of these type of policies on loans' interest rate spread over the interbank rate. Using a very detailed database on loan contracts, we...

As a response to the COVID-19 shock, the Uruguayan government expanded an existing public credit guarantee and introduced deductions in local currency reserve requirements. Policies of the same nature were also implemented by several governments throughout the world. This paper contributes to...

The adoption of inflation-targeting regimes has led central banks to devote considerable efforts to improve their transparency. Following this trend, several authors have developed tools to measure and compare the levels of transparency of central banks. This paper undertakes this task for the...