ECB paper examines banks’ responses to unconventional policy
Weaker banks’ sheets reduce credit supply in response to conventional policy shocks, paper finds
Unconventional monetary policy in the eurozone affected credit supply very differently than conventional policy did, a European Central Bank working paper finds.
In Credit supply and demand in unconventional times, Carlo Altavilla, Miguel Boucinha, Sarah Holton and Steven Ongena examine whether borrowers demand less credit from banks with weak balance sheet positions.
The authors use data on specific lenders from the eurozone’s individual bank lending survey from 2004 to 2017. They match this
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