Can the Provision of Long-Term Liquidity Help to Avoid a Credit Crunch? Evidence from the Eurosystem's LTRO by Philippe Andrade, Christophe Cahn, Henri Fraisse, Jean-Stéphane Mésonnier :: SSRN
Description
We exploit the Eurosystem’s longer-term refinancing operations (LTROs) of 2011–2012 to assess whether a large provision of central bank liquidity to banks durin