Lenza, Michele; Pill, Huw; Reichlin, Lucrezia - 2021
so-called "non-standard" monetary policy measures focusing on those introduced in the euro area in the aftermath of the … market spreads, we propose an empirical exercise intended to quantify the macroeconomic impact of non-standard monetary … policy measures insofar as it has been transmitted via these spreads. The results suggest that non-standard measures have …