On the effects of the ECB’s funding policies on bank lending

Heather Gibson, Stephen Hall, Pavlos Petroulas and George Tavlas

Journal of International Money and Finance, 2020, vol. 102, issue C

Abstract: The euro-area financial crisis that erupted in 2009 was marked by negative confidence effects that had significant ramifications for euro area banking systems. As a result, bank lending declined sharply. We investigate the effects of ECB policies on banks’ lending, taking account of national and regional spillovers. The results suggest that those policies were important for rebuilding confidence, thus supporting bank lending in the euro area.

Keywords: Euro area financial crisis; Monetary policy operations; European banks; Spatial panel model (search for similar items in EconPapers)
JEL-codes: E3 G01 G14 G21 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jimfin:v:102:y:2020:i:c:s0261560619305844

DOI: 10.1016/j.jimonfin.2019.102112

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