Negative interest rate regimes typically involve reserve tiering to exempt a portion of bank
reserves from negative rates. We study the effects on bank behavior of a large and …

We show that the transmission of the European Central Bank's (ECB) recent monetary policy
tightening differs across banks depending on their level of excess reserves. Specifically, the …

We study how the distribution of excess liquidity amongst banks alters the transmission of
policy rate hikes to bank interest rates. Using a difference-in-difference approach, we …

Different from rate-based monetary policy in Western countries, China mainly relies on
quantity-based instruments, which do not eliminate funding imbalances within the banking …

We show that the transmission of the European Central Bank's (ECB) recent monetary policy
tightening differs across banks depending on their level of excess reserves. Specifically, the …

В рамках таргетирования инфляции цель денежно-кредитной политики (ДКП) Банка
России заключается в обеспечении ценовой стабильности, то есть поддержании …

Unsecured short-term creditors of banks face the write-off risk of their securities in the event
of bank runs. To prevent frequent failures, banks are required to maintain a certain level of …

We examine the impact of debt financing on corporate innovation by exploiting cross-bank
variation in the exposure to a non-conventional monetary policy shock. We show that …

This paper examines the role of supply and demand conditions on bank lending using data
from the Bank Lending Survey (BLS) in Azerbaijan. Results suggest that both supply and …