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http://hdl.handle.net/10419/41415
  

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dc.contributor.authorHauck, Achimen_US
dc.contributor.authorNeyer, Ulrikeen_US
dc.date.accessioned2010-11-02T09:15:37Z-
dc.date.available2010-11-02T09:15:37Z-
dc.date.issued2010en_US
dc.identifier.isbn978-3-86304-008-6en_US
dc.identifier.urihttp://hdl.handle.net/10419/41415-
dc.description.abstractThis paper develops a theoretical model which explains several stylized facts observed in the euro area interbank market after the collapse of Lehman Brothers in 2008. The model shows that if costs of participating in the interbank market are high, the central bank assumes an intermediary function between liquidity surplus banks and liquidity deficit banks and thereby replaces the interbank market. From a policy perspective, we argue that possible measures of the Eurosystem to reactivate the interbank market may conflict, inter alia, with monetary policy aims.en_US
dc.language.isoengen_US
dc.publisherDICE Düsseldorfen_US
dc.relation.ispartofseriesDICE discussion paper 09en_US
dc.subject.jelE52en_US
dc.subject.jelE58en_US
dc.subject.jelG01en_US
dc.subject.jelG21en_US
dc.subject.ddc330en_US
dc.subject.keywordLiquidityen_US
dc.subject.keywordMonetary Policy Instrumentsen_US
dc.subject.keywordInterbank Marketen_US
dc.subject.keywordFinancial Crisisen_US
dc.subject.stwGeldmarkten_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwBankenliquiditäten_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwEU-Staatenen_US
dc.titleThe euro area interbank market and the liquidity management of the eurosystem in the financial crisisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn638077230en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:dicedp:09-
Appears in Collections:DICE Discussion Paper, Düsseldorf Institute for Competition Economics (DICE)

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