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dc.contributor.authorHauck, Achimen
dc.contributor.authorNeyer, Ulrikeen
dc.date.accessioned2010-11-02T09:15:37Z-
dc.date.available2010-11-02T09:15:37Z-
dc.date.issued2010-
dc.identifier.isbn978-3-86304-008-6en
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
dc.language.isoengen
dc.publisher|aHeinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE) |cDüsseldorfen
dc.relation.ispartofseries|aDICE Discussion Paper |x09en
dc.subject.jelE52en
dc.subject.jelE58en
dc.subject.jelG01en
dc.subject.jelG21en
dc.subject.ddc330en
dc.subject.keywordLiquidityen
dc.subject.keywordMonetary Policy Instrumentsen
dc.subject.keywordInterbank Marketen
dc.subject.keywordFinancial Crisisen
dc.subject.stwGeldmarkten
dc.subject.stwFinanzmarktkriseen
dc.subject.stwGeldpolitiken
dc.subject.stwBankenliquiditäten
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwEU-Staatenen
dc.titleThe euro area interbank market and the liquidity management of the eurosystem in the financial crisis-
dc.type|aWorking Paperen
dc.identifier.ppn638077230en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:dicedp:09en

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