The Scarcity Effect of Quantitative Easing on Repo Rates: Evidence from the Euro Area

The Scarcity Effect of Quantitative Easing on Repo Rates: Evidence from the Euro Area
Most short-term interest rates in the Euro area are below the European Central Bank deposit facility rate, the rate at which the central bank remunerates banks’ excess reserves. This unexpected development coincided with the start of the Public Sector Purchase Program (PSPP). In this paper, we explore empirically the interactions between the... READ MORE...

Publication date: December 2018
ISBN 9781484386910
$18.00

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