Monetary Policy and Banks in the Euro Area: The Tale of Two Crises

•The paper describes monetary policy and banks’ behaviour during the two recent euro area recessions.•It points to a decreased effectiveness of ECB liquidity policy in the second crisis.•It attributes it to financial sector adjustment facing solvency problems which were not dealt withs. The paper is...

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Veröffentlicht in:	Journal of macroeconomics 2014-03, Vol.39, p.387-400
1. Verfasser:	Reichlin, Lucrezia
Format:	Artikel
Sprache:	eng
Schlagworte:	Balance sheets Bank behavior Banking industry Central banks ECB policies Economic crisis Economic recessions Eurozone Financial system Monetary policy Recessions Studies
Online-Zugang:	Volltext
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