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Unconventional Monetary Policy and Bank Risk Taking in Euro Area

Author

Listed:
  • Ioana Ple?cãu

    (Alexandru Ioan Cuza University, Iasi, Romania)

  • Vasile Cocri?

    (Alexandru Ioan Cuza University, Iasi, Romania)

Abstract

Central banking over the world has changed after the 2008 financial crisis. Monetary policy has expanded the array of instruments it used in order to influence the macro economy. Major central banks started using not only traditional, conventional instruments, but also some nonstandard measures in order to avoid economic collapse and sustain the banking system. The aim of this paper is to analyse the impact of European Central Bank unconventional instruments, measured using the change in its balance sheet, on the bank risk-taking of commercial banks from Eurozone, captured by Z-Score. Our findings point to an increase of bank risk-taking, due to the use of unconventional monetary policy measures.

Suggested Citation

  • Ioana Ple?cãu & Vasile Cocri?, 2016. "Unconventional Monetary Policy and Bank Risk Taking in Euro Area," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 600-605, July.
    • Handle: RePEc:ovi:oviste:v:xvi:y:2016:i:1:p:600-605
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    More about this item

    Keywords

    unconventional monetary policy; bank risk-taking; financial crisis;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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