ECB’s QE works best for strong banking systems – paper
Researchers track effects of ECB unconventional policy on eurozone countries
A working paper published by the Bank of Spain presents a global vector autoregressive model for the eurozone to trace the effects of the European Central Bank's (ECB) recent interventions.
In Uncovering the heterogeneous effects of ECB unconventional monetary policies across euro area countries, Pablo Burriel and Alessandro Galesi say their model exploits panel variation among eurozone countries and "explicitly takes into account cross-country interdependencies".
The authors find that the ECB's
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