Lenza, Michele; Pill, Huw; Reichlin, Lucrezia - C.E.P.R. Discussion Papers - 2010
exercise on the euro area which estimates the effect of the reduction of these spreads to the broader economy. …This paper describes the way in which the European Central Bank (ECB), the Federal Reserve and the Bank of England … conducted monetary policy since the beginning of the financial crisis, in August 2007. We argue that both quantitative easing …