This study examines the transmission of monetary policy in the eurozone from 2005 to 2021. The novelty of this research … lies in defining the European Central Bank's monetary policy through three dimensions extracted via principal component … monetary policy within the Eurozone. Specifically, dimension 2, which represents the yield curve structure and the ECB …

Does central bank collateral policy contribute to financial market integration? We address this question by exploiting … that, in 2007, the European Central Bank replaced national collateral frameworks by a single list. Under the single list … regime, euro area banks could pledge all euro area bank loans as collateral, not only domestic loans as before the framework …

How does a shock to the liquidity of bank assets affect credit supply, cross-border lending, and real activity at the … firm level? We exploit that, in 2007, the European Central Bank replaced national collateral frameworks by a single list …

I investigate whether bank exposures to sovereign debt during the European debt crisis affected the real economy. I … show a shock to the marked-to-market (MTM) value of bank exposures to sovereign debt led to credit tightening in 2010 … exposures reduced bank short-term funding from US money market funds rather than affecting equity or working through alternative …