ECB Objectives and Tasks: Price Stability vs. Lender of Last Resort

According to the fore- going, the ECB’s statements, and more precisely changes in the tone of the statement made after the press conference that follows the monetary policy

We first use the linear cointegration framework (Granger, 1981; Engle and Granger, 1987; Johansen, 1988) to investigate the long-run relationship between two integrated

44 A simple test of whether the central bank behaves like a lender of last resort (which formally tests whether we can accept the null that the Bank does not ration credit) is

antibioprophylaxie chez les enfants subissant une chirurgie cardiaque, Cette étude a montré que la surveillance du PCT ainsi que de la CRP dans le période postopératoire précoce

This framework lead to emphasize the role of institutions in economic performances, especially labour market institutions.. These institutions lead to diverse rigidities which

This paper assesses the transmission of ECB monetary policies, conventional and unconventional, to both interest rates and lending volumes for the money market, sovereign bonds

Especially considering the poor economic performances of the euro zone in the past few years, we must conclude that monetary policy was not helpful in fostering growth recovery in

Because the FED has constitutionally an eye on the growth rate, its room for manœuvre is objectively greater. First these duality of objectives has the great advantage of preventing