Euro Area Monetary Policy in Uncharted Waters

Euro Area Monetary Policy in Uncharted Waters
We analyze the European Central Bank's (ECB's) response to the global financial crisis. Our results suggest that even during the crisis, the core part of ECB's monetary policy transmission-from policy rates to market rates-has continued to operate, but at a decreased efficiency. We also find some evidence that the ECB's non-standard measures,... READ MORE...

Publication date: August 2009
ISBN 9781451873320
$18.00

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