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Archive » November 2017 » Accommodative monetary policies and financial intermediation processes

Accommodative monetary policies and financial intermediation processes

Paolo Agnese, Antonio Fasano
November 2017 - n. 11
Jel codes: E52, E58, G21

The severe tensions in the financial markets since August 2007 needed extraordinary measures by monetary policy makers all over the world, which have gone beyond zero lower bound (Zlb) and have adopted unconventional monetary policies, primarily by purchasing medium and long-term financial assets. We analyze unconventional policy actions adopted by the ECB, the contribution to intermediation processes and their impacts on bank credit.

 

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