Abstract
This paper introduces a coherent framework for analyzing the role of discount window aspects of monetary policy. It deals explicitly with discount window regimes used by European central banks. In many European countries, commercial banks have virtually limited access to borrowed reserves. The framework is used to analyze what this feature means for the effects of policy instruments and exogenous shocks.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
