Horst, Maximilian; Neyer, Ulrike - In: Credit and capital markets : Kredit und Kapital 55 (2022) 1, pp. 3-34
Large increases in TARGET2 balances in the euro area since 2008 have led to concern and debate about the appropriate … interpretation and policy reaction - in particular in TARGET2 creditor countries such as Germany. Against this background, we examine … the main drivers of the increases and asymmetries in TARGET2 balances that have emerged in the context of the financial …