Giannone, Domenico; Lenza, Michele; Pill, Huw; … - C.E.P.R. Discussion Papers - 2012
This paper analyses the impact on the macroeconomy of the ECB’s non-standard monetary policy implemented in the … key channel of transmission for non-standard monetary policy measures. Our approach is similar to Lenza et al., 2009 but … 0.6 percentage points lower, than would have been the case in the absence of the ECB’s non-standard monetary policy …