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This report looks backwards to the worldwide use of (enhanced) lender of last resort (LOLR) and market maker of last resort (MMLR) facilities during the global financial and the pandemic crises. It discusses how LOLR and MMLR facilities have worked; looking ahead, it considers what benefits and...
Persistent link: https://www.econbiz.de/10014327938
erforderlich. Die expansive Geldpolitik der EZB begünstigt gegenwärtig tendenziell Investitionen treibhausgasintensiver Unternehmen … werden, die allgemeine Wirtschaftspolitik zu unterstützen, sollte die Europäische Zentralbank (EZB) zeitnah klimapolitische …
Persistent link: https://www.econbiz.de/10012606198
This report presents a long-term view of the evolution of financing of EU non-financial corporations (NFCs) in recent decades. It finds a decline in NFC leverage since at least 2008, and across countries, size categories and industries. It also documents a growing role of non-bank financial...
Persistent link: https://www.econbiz.de/10014327946
The Bank of England, the Federal Reserve (Fed) and the European Central Bank (ECB) have responded to the crisis with … exceptional initiatives resulting in a major increase in their balance sheets. After the ECB's end-2011 launch of three-year bank … differences remain: the Bank of England and Fed have mostly relied on large-scale purchases of government bonds, while the ECB has …
Persistent link: https://www.econbiz.de/10010293582
ECB's monetary policy to bring inflation up close to 2%, and that the instrument employed for QE is one of monetary policy … democracy under German constitutional law can actually provide the standard by which the ECB is to be measured, and how tight … judicial review could be exercised over the ECB without encroaching upon its autonomy in monetary policy matters - and thus …
Persistent link: https://www.econbiz.de/10011710096
This dissertation was written by Christopher Weber during his time as a research assistant at the Center for Economic Studies (CES) at the Ludwig-Maximilians-Universität (LMU) Munich. It was handed in at the department of Economics at the LMU Munich in July 2016. The goal of the thesis is to...
Persistent link: https://www.econbiz.de/10011698362
The paper provides an analysis of the euro area money and bond markets and their infrastructure since the introduction … notably regarding the bond market which lags behind in terms of liquidity, market completeness and overall size compared to … the US corporate bond market. Analysis of the barriers to integration, which do not seem to be specific to these markets …
Persistent link: https://www.econbiz.de/10011606153
The aim of this report has been to produce an analysis of the state of the social enterprises in Finland. Based on a comprehensive survey, there are roughly 19 000 social enterprises in Finland that employ around 125 000 persons. These estimates produced in this report multiply the views on the...
Persistent link: https://www.econbiz.de/10012037666
The ECB has ended its net purchases of bonds. As a result, the ECB will no longer dampen volatility in the euro area … bond markets to the same extent. This may lead to greater volatility in the Danish mortgage bond market. In recent years …, banks have reduced their market-making capacity in the mortgage bond market, which may affect their ability to dampen …
Persistent link: https://www.econbiz.de/10014551635
stress in the Norwegian foreign exchange and bond markets, and how policy measures were used by Norges Bank to alleviate …
Persistent link: https://www.econbiz.de/10012661607