, they come with costs. We provide a literature review of the costs associated with these central bank actions, without …-seeking and unproductive uses of the liquidity provided by the central bank. We discuss measures that may mitigate the negative …

during both bank crises and market crashes, with the bond market moving the same direction as bank credit. The result …, however, is significant for market-based countries but not significant for bank-based countries. As emerging markets are … mainly bank-based it may provide an explanation why it takes more time for them to recover from economic downturn after a …

inter-sectoral flows. We find that the euro area financial system was essentially bank-centric when it entered the global … absorb losses and whether they can serve as transmitters of stress. Finally, turning to liquidity, bank deposits, money …