ECB: monetary policy could have prevented the crisis
A European Central Bank (ECB) paper published in October shows that low short-term interest rates, rather than long-term interest rates, softened pre-crisis lending standards.
Angela Maddaloni and José-Luis Peydró, the paper's authors, use United States and eurozone bank lending data to compare the impact of short-term and long-term interest rates on lending standards.
Maddaloni and Peydró show that low short-term rates significantly weakened securitisation and supervision standards. However
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- ECB says iPhone is currently incompatible with digital euro
- ‘Do I die, or do I survive?’ Officials reflect on Basel III complexity
- French president calls for expanded ECB mandate