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La respuesta de la política monetaria del Banco Central Europeo frente a la crisis del Covid-19

Author

Listed:
  • Pablo Aguilar

    (Banco de España)

  • Óscar Arce

    (Banco de España)

  • Samuel Hurtado

    (Banco de España)

  • Jaime Martínez-Martín

    (Banco de España)

  • Galo Nuño

    (Banco de España)

  • Carlos Thomas

    (Banco de España)

Abstract

El Banco Central Europeo (BCE) ha desplegado una respuesta enérgica ante los desafíos planteados por la crisis del Covid-19 a la economía del área del euro. Este documento revisa las diferentes medidas de política monetaria adoptadas por el BCE desde la irrupción de la pandemia, y proporciona una explicación de su motivación, así como varios análisis del impacto de algunas de las principales medidas sobre la economía española y sobre el área del euro en su conjunto.

Suggested Citation

  • Pablo Aguilar & Óscar Arce & Samuel Hurtado & Jaime Martínez-Martín & Galo Nuño & Carlos Thomas, 2020. "La respuesta de la política monetaria del Banco Central Europeo frente a la crisis del Covid-19," Occasional Papers 2026, Banco de España.
    • Handle: RePEc:bde:opaper:2026
    as

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    References listed on IDEAS

    as
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    4. Alessandro Galesi & Galo Nuño & Carlos Thomas, 2017. "The natural interest rate: concept, determinants and implications for monetary policy," Economic Bulletin, Banco de España, issue MAR.
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    7. Joseph Abadi & Markus Brunnermeier & Yann Koby, 2023. "The Reversal Interest Rate," American Economic Review, American Economic Association, vol. 113(8), pages 2084-2120, August.
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    10. Rostagno, Massimo & Altavilla, Carlo & Carboni, Giacomo & Lemke, Wolfgang & Motto, Roberto & Saint Guilhem, Arthur & Yiangou, Jonathan, 2019. "A tale of two decades: the ECB’s monetary policy at 20," Working Paper Series 2346, European Central Bank.
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    More about this item

    Keywords

    Banco Central Europeo; compra de activos; operaciones de refinanciación;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • 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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