Kopafbeelding publicaties CPB


Effects of Unconventional Monetary Policy on European Corporate Credit

In this paper we investigate whether the targeted longer-term refinancing operations (TLTRO) and the asset purchase program (APP) led to lower interest rates on new corporate credit, and whether the signalling channel and the capital relief channel played any role in the transmission of these ECB policies.

CPB Discussion Paper 372 | 6 February 2018

22 pages | pdf document, 383.8 KB

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How Large was the Credit Crunch in the OECD?

Reduced credit supply in the years 2008 and 2009 should have resulted in lower growth in industries that are more dependent on external finance.

CPB Discussion Paper 232 | 5 February 2013

24 pages | pdf document, 353.2 KB

ISBN 978-90-5833-583-8 | Go to publication

Inside Liquidity in Competitive Markets

In CPB Discussion Paper 209 we study incentives of financial intermediaries to reserve liquidity given that they can rely on the interbank market for their liquidity needs.

CPB Discussion Paper 209 | 20 April 2012

36 pages | pdf document, 1005.8 KB

ISBN 978-90-5833-551-7 | Go to publication

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