Bowman, David; Cai, Fang; Davies, Sally; Kamin, Steven - Federal Reserve Board (Board of Governors of the … - 2011
Prior to the recent financial crisis, one of the most prominent examples of unconventional monetary stimulus was Japan …) and Hosono (2006), this paper uses bank-level data from 2000 to 2009 to examine the effectiveness in promoting bank … lending of a key element of QEP, the Bank of Japan's injections of liquidity into the interbank market. We identify a robust …