Grimaldi, Marianna; Kapoor, Supriya - 2023
paper, we find more complex effects on bank lending from Quantitative Easing (QE) introduced by the Federal Reserve Bank in … 2008. The novelty of our approach is to augment the model with bank-level heterogeneity. While there is a relation between … lending and the type of assets purchased by the central bank, the impact on similarly QE-exposed banks is also crucially …