Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/162487
Authors: 
Behrendt, Stefan
Year of Publication: 
2017
Series/Report no.: 
Jena Economic Research Papers 2017-002
Abstract: 
This paper employs a structural VAR framework with sign restrictions to estimate the effects of unconventional monetary policies of the European Central Bank since the Global Financial Crisis, mainly in their effectiveness towards bank lending. Using a variable for newly issued credit instead of the outstanding stock of credit, the effects on bank lending are smaller than found in previous similar studies for the Euro area.
Subjects: 
unconventional monetary policy
zero lower bound
bank lending
SVAR
JEL: 
C32
E30
E44
E51
E52
E58
Document Type: 
Working Paper

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