The European Monetary Policy Responses During the Pandemic Crisis

This paper uses an event-based analysis to describe how the European Central Bank’s (ECB’s) policy responses to the pandemic crisis have affected the European financial and economic system. The result of our exercise, which is based on the examination of the main measures taken by the ECB during 202...

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Autores principales: Benigno, Pierpaolo, Canofari, Paolo, Di Bartolomeo, Giovanni, Messori, Marcello
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer US 2022
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8888133/
http://dx.doi.org/10.1007/s11079-022-09665-7
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author Benigno, Pierpaolo
Canofari, Paolo
Di Bartolomeo, Giovanni
Messori, Marcello
author_facet Benigno, Pierpaolo
Canofari, Paolo
Di Bartolomeo, Giovanni
Messori, Marcello
author_sort Benigno, Pierpaolo
collection PubMed
description This paper uses an event-based analysis to describe how the European Central Bank’s (ECB’s) policy responses to the pandemic crisis have affected the European financial and economic system. The result of our exercise, which is based on the examination of the main measures taken by the ECB during 2020, is that these responses have positively affected the European economic system by improving banks’ lending activity and by indirectly creating room for expansionary fiscal policies in the euro area’s high-debt countries that do not have fiscal capacity.
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spelling pubmed-88881332022-03-02 The European Monetary Policy Responses During the Pandemic Crisis Benigno, Pierpaolo Canofari, Paolo Di Bartolomeo, Giovanni Messori, Marcello Open Econ Rev Research Article This paper uses an event-based analysis to describe how the European Central Bank’s (ECB’s) policy responses to the pandemic crisis have affected the European financial and economic system. The result of our exercise, which is based on the examination of the main measures taken by the ECB during 2020, is that these responses have positively affected the European economic system by improving banks’ lending activity and by indirectly creating room for expansionary fiscal policies in the euro area’s high-debt countries that do not have fiscal capacity. Springer US 2022-03-02 2022 /pmc/articles/PMC8888133/ http://dx.doi.org/10.1007/s11079-022-09665-7 Text en © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Research Article
Benigno, Pierpaolo
Canofari, Paolo
Di Bartolomeo, Giovanni
Messori, Marcello
The European Monetary Policy Responses During the Pandemic Crisis
title The European Monetary Policy Responses During the Pandemic Crisis
title_full The European Monetary Policy Responses During the Pandemic Crisis
title_fullStr The European Monetary Policy Responses During the Pandemic Crisis
title_full_unstemmed The European Monetary Policy Responses During the Pandemic Crisis
title_short The European Monetary Policy Responses During the Pandemic Crisis
title_sort european monetary policy responses during the pandemic crisis
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8888133/
http://dx.doi.org/10.1007/s11079-022-09665-7
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