ECB paper argues for existence of ‘liquidity coverage channel’
Central banks’ credit operations can affect monetary policy via a “liquidity coverage ratio”, a working paper published by the European Central Bank argues.
In Liquidity coverage ratios and monetary policy credit in the time of corona, Viktoriya Gocheva, Yvo Mudde and Jens Tapking analyse data from 1,602 eurozone banks. They concentrate on how these lenders were affected by the emergency policies instituted by eurozone central banks in response to the Covid-19 pandemic in 2020.
The authors
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