significant impact on the health of euro area banks. Information effects, which made the private sector more pessimistic about … benefitted from surprises, which steepened the yield curve. We find that the effects of monetary policy shocks on banks displayed … monetary policy shocks on banks. After the OMT announcement, we detect that the response of bank stocks to monetary policy …

significant impact on the health of euro area banks. Information effects, which made the private sector more pessimistic about … benefitted from surprises, which steepened the yield curve. We find that the effects of monetary policy shocks on banks displayed … monetary policy shocks on banks. After the OMT announcement, we detect that the response of bank stocks to monetary policy …

dollar credit supply to non-US firms (relative to banks), mitigating the dollar credit reduction. This increase is stronger … funding, relative to banks. In sum, despite increased risk-taking by less regulated and more fragile nonbanks (relative to … banks), access to nonbank credit reduces the volatility in capital flows-and associated economic activity-stemming from US …

-free asset over time. The four models specify this single asset to be private bonds, public bonds, public money, or private money … refers to the limits on private issue of money or bonds, or the supplies of publicly issued bonds or money.) …