Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154310
Authors: 
Correia, Isabel
De Fiore, Fiorella
Teles, Pedro
Tristani, Oreste
Year of Publication: 
2016
Series/Report no.: 
ECB Working Paper 1877
Abstract: 
In a model with costly financial intermediation and financial disturbances, credit subsidies are desirable, irrespective of how they are financed. They are especially useful when the zero lower bound constraint is reached. They are superior to other credit policies such as direct lending.
Subjects: 
banks
costly enforcement
credit policy
credit subsidies
monetary policy
zero-lower bound on nominal interest rates
JEL: 
E31
E40
E44
E52
E58
E62
E63
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-1690-5
Document Type: 
Working Paper

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