Abstract
The paper by Altavilla et al. (2023) makes a strong case that bold and timely action by the ECB helped to minimize the economic costs of Covid-19. In particular, the authors show that the TLTRO III reduced banks’ cost of funding stimulating them to maintain lending to solvent firms but not to ‘zombie’ firms. Providing capital relief to banks was strongly complementary, helping to enhance the impact of the TLTRO III.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: 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.