effect of monetary tightening on bank lending …

accounting information on the activities of a central bank are manifold. First, the effectiveness of monetary policy crucially … hinges on the financial independence of a central bank, which can be evidenced, inter alia, by its financial strength. Using … a new simulation of the financial results of the European Central Bank (ECB), this paper shows that the reported annual …

Consider a competitive bank whose illiquid asset portfolio is funded by short-term debt that has to be refinanced … of social externalities of bank failures further lowers the optimal level of transparency. Moreover, asset risk taking …