Clerc, L.; Bordes, C. - Banque de France - 2010
unconventional measures adopted by the ECB created interference between its monetary policy, its credit policy and its interest rate …This paper examines the art of central banking as practised by the European Central Bank (ECB) through the prism of … event of temporary money demand shocks. During the first part of the crisis, the ECB acted in accordance with the separation …