Välimäki, Tuomas - Suomen Pankki - 2006
difference between marginal and minimum price for liquidity, when the ECB reformed its op-erational framework for monetary policy … wider in 2005 than in any single year after 2000, when the ECB switched from fixed to variable rate tenders. Parts of the … relevant literature have argued that because of the ECB’s asymmetric preferences over deviations of the market rates up and …