The unintended consequences of the zero lower bound policy

Citations

Cited by:

1. Zhang, Zheng & Wang, Wenxue & Song, Ciji, 2024. "Quantitative easing and bank risk-taking: Evidence from the federal reserve's large-scale asset purchases," Finance Research Letters, Elsevier, vol. 67(PA).
2. Altavilla, Carlo & Laeven, Luc & Peydró, José-Luis, 2020. "Monetary and Macroprudential Policy Complementarities: evidence from European credit registers," CEPR Discussion Papers 15539, C.E.P.R. Discussion Papers.
   • Carlo Altavilla & Luc Laeven & José-Luis Peydró, 2021. "Monetary and Macroprudential Policy Complementarities: Evidence from European Credit Registers," Working Papers 1246, Barcelona School of Economics.
   • Carlo Altavilla & Luc Laeven & José-Luis Peydró, 2021. "Monetary and macroprudential policy complementarities: Evidence from European credit registers," Economics Working Papers 1773, Department of Economics and Business, Universitat Pompeu Fabra.
   • Altavilla, Carlo & Laeven, Luc & Peydró, José-Luis, 2021. "Monetary and Macroprudential Policy Complementarities: Evidence from European Credit Registers," EconStor Preprints 232034, ZBW - Leibniz Information Centre for Economics.
   • Altavilla, Carlo & Laeven, Luc & Peydró, José-Luis, 2020. "Monetary and macroprudential policy complementarities: evidence from European credit registers," Working Paper Series 2504, European Central Bank.
3. Campbell, John Y. & Sigalov, Roman, 2022. "Portfolio choice with sustainable spending: A model of reaching for yield," Journal of Financial Economics, Elsevier, vol. 143(1), pages 188-206.
   • John Y. Campbell & Roman Sigalov, 2020. "Portfolio Choice with Sustainable Spending: A Model of Reaching for Yield," NBER Working Papers 27025, National Bureau of Economic Research, Inc.
4. Gabriel Jiménez & Dmitry Kuvshinov & José-Luis Peydró & Björn Richter, 2022. "Monetary Policy, Inflation, and Crises: New Evidence from History and Administrative Data," Working Papers 1378, Barcelona School of Economics.
   • Gabriel Jiménez & Dmitry Kuvshinov & José-Luis Peydró & Bjoern Richter, 2022. "Monetary policy, inflation, and crises: New evidence from history and administrative data," Economics Working Papers 1854, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2023.
   • Jiménez, Gabriel & Kuvshinov, Dmitry & Peydro, Jose-Luis & Richter, Björn, 2022. "Monetary policy, inflation, and crises: New evidence from history and administrative data," CEPR Discussion Papers 17761, C.E.P.R. Discussion Papers.
5. Yue Cai, 2025. "Market Power and Money Market Funds Risk-Taking," Working Papers 2411, Waseda University, Faculty of Political Science and Economics.
6. Lee, Seung Jung & Liu, Lucy Qian & Stebunovs, Viktors, 2022. "Risk-taking spillovers of U.S. monetary policy in the global market for U.S. dollar corporate loans," Journal of Banking & Finance, Elsevier, vol. 138(C).
   • Seung Jung Lee & Lucy Qian Liu & Viktors Stebunovs, 2019. "Risk-Taking Spillovers of U.S. Monetary Policy in the Global Market for U.S. Dollar Corporate Loans," International Finance Discussion Papers 1251, Board of Governors of the Federal Reserve System (U.S.).
7. Kent Daniel & Lorenzo Garlappi & Kairong Xiao, 2021. "Monetary Policy and Reaching for Income," Journal of Finance, American Finance Association, vol. 76(3), pages 1145-1193, June.
   • Kent Daniel & Lorenzo Garlappi & Kairong Xiao, 2018. "Monetary Policy and Reaching for Income," NBER Working Papers 25344, National Bureau of Economic Research, Inc.
8. Di Maggio, Marco, 2017. "Comment on: “Dealer balance sheets and bond liquidity provision” by Adrian, Boyarchenko and Shachar," Journal of Monetary Economics, Elsevier, vol. 89(C), pages 110-112.
9. Bua, Giovanna & Dunne, Peter G. & Sorbo, Jacopo, 2019. "Money Market Funds and Unconventional Monetary Policy," Research Technical Papers 7/RT/19, Central Bank of Ireland.
10. Christophe Pérignon & David Thesmar & Guillaume Vuillemey, 2018. "Wholesale Funding Dry‐Ups," Journal of Finance, American Finance Association, vol. 73(2), pages 575-617, April.
    • Perignon, Christophe & Thesmar, David & Vuillemey, Guillaume, 2017. "Wholesale Funding Dry-Ups," HEC Research Papers Series 1144, HEC Paris.
    • Pérignon, Christophe & Thesmar, David & Vuillemey, Guillaume, 2017. "Wholesale funding dry-ups," ESRB Working Paper Series 49, European Systemic Risk Board.
11. Christian Bittner & Alexander Rodnyansky & Farzad Saidi & Yannick Timmer, 2021. "Mixing QE and Interest Rate Policies at the Effective Lower Bound: Micro Evidence from the Euro Area," CESifo Working Paper Series 9363, CESifo.
    • Christian Bittner & Alexander Rodnyansky & Farzad Saidi & Yannick Timmer, 2024. "Mixing QE and Interest Rate Policies at the Effective Lower Bound: Micro Evidence from the Euro Area," CRC TR 224 Discussion Paper Series crctr224_2024_552, University of Bonn and University of Mannheim, Germany.
    • Bittner, Christian & Rodnyansky, Alexander & Saidi, Farzad & Timmer, Yannick, 2023. "Mixing QE and Interest Rate Policies at the Effective Lower Bound: Micro Evidence from the Euro Area," CEPR Discussion Papers 17827, C.E.P.R. Discussion Papers.
    • Christian Bittner & Alexander Rodnyansky & Farzad Saidi & Yannick Timmer, 2024. "Mixing QE and Interest Rate Policies at the Effective Lower Bound: Micro Evidence from the Euro Area," ECONtribute Discussion Papers Series 292, University of Bonn and University of Cologne, Germany.
12. Cipriani, Marco & La Spada, Gabriele, 2021. "Investors’ appetite for money-like assets: The MMF industry after the 2014 regulatory reform," Journal of Financial Economics, Elsevier, vol. 140(1), pages 250-269.
    • Cipriani, Marco & La Spada, Gabriele, 2020. "Investors' Appetite for Money-Like Assets: The MMF Industry after the 2014 Regulatory Reform," CEPR Discussion Papers 14375, C.E.P.R. Discussion Papers.
13. Kenechukwu E. Anadu & James Bohn & Lina Lu & Matthew Pritsker & Andrei Zlate, 2019. "Reach for Yield by U.S. Public Pension Funds," Supervisory Research and Analysis Working Papers RPA 19-2, Federal Reserve Bank of Boston.
    • Kenechukwu E. Anadu & James Bohn & Lina Lu & Matthew Pritsker & Andrei Zlate, 2019. "Reach for Yield by U.S. Public Pension Funds," Finance and Economics Discussion Series 2019-048, Board of Governors of the Federal Reserve System (U.S.).
14. Marco Di Maggio & Amir Kermani & Christopher Palmer, 2016. "How Quantitative Easing Works: Evidence on the Refinancing Channel," NBER Working Papers 22638, National Bureau of Economic Research, Inc.
15. Roman Horvath, 2018. "Financial market fragmentation and monetary transmission in the euro area: what do we know?," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 21(4), pages 319-334, October.
16. Janice C. Eberly & James H. Stock & Jonathan H. Wright, 2020. "The Federal Reserve's Current Framework for Monetary Policy: A Review and Assessment," International Journal of Central Banking, International Journal of Central Banking, vol. 16(1), pages 5-71, February.
    • Janice C. Eberly & James H. Stock & Jonathan H. Wright, 2019. "The Federal Reserve’s Current Framework for Monetary Policy: A Review and Assessment," NBER Working Papers 26002, National Bureau of Economic Research, Inc.
17. Whited, Toni M. & Wu, Yufeng & Xiao, Kairong, 2021. "Low interest rates and risk incentives for banks with market power," Journal of Monetary Economics, Elsevier, vol. 121(C), pages 155-174.
18. Baghai, Ramin P. & Giannetti, Mariassunta & Jäger, Ivika, 2022. "Liability Structure and Risk Taking: Evidence from the Money Market Fund Industry," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 57(5), pages 1771-1804, August.
    • Giannetti, Mariassunta & Baghai, Ramin & Jager, Ivika, 2018. "Liability Structure and Risk-Taking: Evidence from the Money Market Fund Industry," CEPR Discussion Papers 13151, C.E.P.R. Discussion Papers.
19. Albertazzi, Ugo & Barbiero, Francesca & Marqués-Ibáñez, David & Popov, Alexander & Rodriguez d’Acri, Costanza & Vlassopoulos, Thomas, 2020. "Monetary policy and bank stability: the analytical toolbox reviewed," Working Paper Series 2377, European Central Bank.
20. Gara Afonso & Marco Cipriani & Adam Copeland & Anna Kovner & Gabriele La Spada & Antoine Martin, 2021. "The Market Events of Mid-September 2019," Economic Policy Review, Federal Reserve Bank of New York, vol. 27(2), pages 1-26, August.
    • Gara Afonso & Marco Cipriani & Adam Copeland & Anna Kovner & Gabriele La Spada & Antoine Martin, 2020. "The Market Events of Mid-September 2019," Staff Reports 918, Federal Reserve Bank of New York.
    • Cipriani, Marco & Afonso, Gara & Copeland, Adam & Kovner, Anna & La Spada, Gabriele & Martin, Antoine, 2020. "The market events of mid-September 2019," CEPR Discussion Papers 14467, C.E.P.R. Discussion Papers.
21. Salih Fendoğlu & Eda Gülşen & José-Luis Peydró, 2019. "Global liquidity and impairment of local monetary policy," Economics Working Papers 1680, Department of Economics and Business, Universitat Pompeu Fabra.
    • Salih Fendoğlu & Eda Gülşen & José-Luis Peydró, 2019. "Global Liquidity and Impairment of Local Monetary Policy," Working Papers 1131, Barcelona School of Economics.
    • Fendoglu, Salih & Gulsen, Eda & Peydró, José-Luis, 2019. "Global Liquidity and Impairment of Local Monetary Policy," EconStor Preprints 216794, ZBW - Leibniz Information Centre for Economics.
    • Peydró, José-Luis & Fendoglu, Salih & Gulsen, Eda, 2020. "Global Liquidity and Impairment of Local Monetary Policy," CEPR Discussion Papers 15273, C.E.P.R. Discussion Papers.
22. Florian Heider & Farzad Saidi & Glenn Schepens, 2019. "Life below Zero: Bank Lending under Negative Policy Rates," The Review of Financial Studies, Society for Financial Studies, vol. 32(10), pages 3728-3761.
    • Heider, Florian & Saidi, Farzad & Schepens, Glenn, 2018. "Life below zero: Bank lending under negative policy rates," CEPR Discussion Papers 13191, C.E.P.R. Discussion Papers.
    • Heider, Florian & Saidi, Farzad & Schepens, Glenn, 2018. "Life below zero: bank lending under negative policy rates," Working Paper Series 2173, European Central Bank.
23. Christoph Kaufmann, 2023. "Investment Funds, Monetary Policy, and the Global Financial Cycle," Journal of the European Economic Association, European Economic Association, vol. 21(2), pages 593-636.
    • Kaufmann, Christoph, 2020. "Investment funds, monetary policy, and the global financial cycle," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224573, Verein für Socialpolitik / German Economic Association.
    • Kaufmann, Christoph, 2021. "Investment funds, monetary policy, and the global financial cycle," ESRB Working Paper Series 119, European Systemic Risk Board.
    • Kaufmann, Christoph, 2020. "Investment funds, monetary policy, and the global financial cycle," Working Paper Series 2489, European Central Bank.
24. Sirio Aramonte & Seung Jung Lee & Viktors Stebunovs, 2015. "Risk Taking and Low Longer-term Interest Rates: Evidence from the U.S. Syndicated Loan Market," Finance and Economics Discussion Series 2015-68, Board of Governors of the Federal Reserve System (U.S.).
25. Nicholas Apergis & Tasawar Hayat & Tareq Saeed, 2020. "The monetary policy transmission mechanism and the role of money market funds in the Eurozone," Economics Bulletin, AccessEcon, vol. 40(2), pages 1249-1260.
26. Peydró, José-Luis & Maddaloni, Angela, 2020. "Negative Monetary Policy Rates and Systemic Banks’ Risk-Taking: Evidence from the Euro Area Securities Register," CEPR Discussion Papers 14988, C.E.P.R. Discussion Papers.
27. Jannic Cutura & Gianpaolo Parise & Andreas Schrimpf, 2025. "Debt Derisking," Management Science, INFORMS, vol. 71(1), pages 615-634, January.
    • Parise, Gianpaolo & Cutura, Jannic & Schrimpf, Paul, 2020. "Debt De-risking," CEPR Discussion Papers 14817, C.E.P.R. Discussion Papers.
    • Jannic Cutura & Gianpaolo Parise & Andreas Schrimpf, 2020. "Debt De-risking," BIS Working Papers 868, Bank for International Settlements.
    • Cutura, Jannic & Parise, Gianpaolo & Schrimpf, Andreas, 2025. "Debt derisking," Other publications TiSEM 7d32a854-8a4e-403f-ac07-9, Tilburg University, School of Economics and Management.
28. Sirio Aramonte, 2025. "The case for supporting liquidity supply in (some corners of) non-bank intermediation," International Finance Discussion Papers 1425, Board of Governors of the Federal Reserve System (U.S.).
29. Daniel Barth & R. Jay Kahn & Phillip J. Monin & Oleg Sokolinskiy, 2024. "Reaching for Duration and Leverage in the Treasury Market," Finance and Economics Discussion Series 2024-039, Board of Governors of the Federal Reserve System (U.S.).
30. repec:pra:mprapa:116209 is not listed on IDEAS
31. Cornelli, Giulio & Gambacorta, Leonardo & Garratt, Rodney & Reghezza, Alessio, 2025. "Why DeFi lending? Evidence from Aave V2," Journal of Financial Intermediation, Elsevier, vol. 63(C).
    • Giulio Cornelli & Leonardo Gambacorta & Rodney Garratt & Alessio Reghezza, 2024. "Why DeFi lending? Evidence from Aave V2," BIS Working Papers 1183, Bank for International Settlements.
    • Cornelli, Giulio & Gambacorta, Leonardo & Garratt, Rodney & Reghezza, Alessio, 2024. "Why DeFi lending? Evidence from Aave V2," CEPR Discussion Papers 19358, C.E.P.R. Discussion Papers.
32. Chen Lian & Yueran Ma & Carmen Wang, 2019. "Low Interest Rates and Risk-Taking: Evidence from Individual Investment Decisions," The Review of Financial Studies, Society for Financial Studies, vol. 32(6), pages 2107-2148.
33. Efendic, Emir & D'Hondt, Catherine & De Winne, Rudy & Corneille, Olivier, 2019. "Negative interest rates may be more psychologically acceptable than assumed: Implications for savings," LIDAM Discussion Papers LFIN 2019006, Université catholique de Louvain, Louvain Finance (LFIN).
34. Ganzach, Yoav & Wohl, Avi, 2018. "A behavioral theory of the effect of the risk-free rate on the demand for risky assets," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 76(C), pages 23-27.
35. Emin, Mustafa & James, Christopher & Li, Tao, 2025. "Variable deposit betas and bank exposure to interest rate risk," Journal of Financial Intermediation, Elsevier, vol. 62(C).
36. Choi, Jaewon & Hoseinzade, Saeid & Shin, Sean Seunghun & Tehranian, Hassan, 2020. "Corporate bond mutual funds and asset fire sales," Journal of Financial Economics, Elsevier, vol. 138(2), pages 432-457.
37. Fricke, Daniel & Greppmair, Stefan & Paludkiewicz, Karol, 2024. "You can’t always get what you want (where you want it): Cross-border effects of the US money market fund reform," Journal of International Economics, Elsevier, vol. 147(C).
    • Fricke, Daniel & Greppmair, Stefan & Paludkiewicz, Karol, 2022. "You can't always get what you want (where you want it): Cross-border effects of the US money market fund reform," Discussion Papers 03/2022, Deutsche Bundesbank.
38. Kurtzman, Robert & Luck, Stephan & Zimmermann, Tom, 2022. "Did QE lead banks to relax their lending standards? Evidence from the Federal Reserve’s LSAPs," Journal of Banking & Finance, Elsevier, vol. 138(C).
    • Robert J. Kurtzman & Stephan Luck & Tom Zimmermann, 2017. "Did QE Lead Banks to Relax Their Lending Standards? Evidence from the Federal Reserve's LSAPs," Finance and Economics Discussion Series 2017-093, Board of Governors of the Federal Reserve System (U.S.).
39. Barbu, Alexandru & Fricke, Christoph & ,, 2020. "Procyclical Asset Management and Bond Risk Premia," CEPR Discussion Papers 15123, C.E.P.R. Discussion Papers.
    • Barbu, Alexandru & Fricke, Christoph & Moench, Emanuel, 2021. "Procyclical asset management and bond risk premia," ESRB Working Paper Series 116, European Systemic Risk Board.
    • Barbu, Alexandru & Fricke, Christoph & Mönch, Emanuel, 2020. "Procyclical asset management and bond risk premia," Discussion Papers 38/2020, Deutsche Bundesbank.
40. David-Pur, Lior & Galil, Koresh & Rosenboim, Mosi, 2020. "To decrease or not to decrease: The impact of zero and negative interest rates on investment decisions," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 87(C).
41. Wang, Ling, 2022. "The dynamics of money supply determination under asset purchase programs: A market-based versus a bank-based financial system," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 79(C).
42. Choi, Jaewon & Kronlund, Mathias & Oh, Ji Yeol Jimmy, 2022. "Sitting bucks: Stale pricing in fixed income funds," Journal of Financial Economics, Elsevier, vol. 145(2), pages 296-317.
43. Harriet Jackson, 2015. "The International Experience with Negative Policy Rates," Discussion Papers 15-13, Bank of Canada.
44. Gomes, Francisco & Peng, Cameron & Smirnova, Oksana & Zhu, Ning, 2025. "Reaching for yield: Evidence from households," Journal of Financial Economics, Elsevier, vol. 168(C).
45. Darmouni, Olivier & Papoutsi, Melina, 2022. "Non-bank lending to mid-size firms in Europe: evidence from corporate securities," Working Paper Series 2663, European Central Bank.
46. John Ammer & Alexandra Tabova & Caleb Wroblewski, 2018. "Searching for yield abroad: risk-taking through foreign investment in U.S. bonds," BIS Working Papers 687, Bank for International Settlements.
47. Longaric, Pablo Anaya & Cera, Katharina & Georgiadis, Georgios & Kaufmann, Christoph, 2025. "Investment funds and euro disaster risk," Working Paper Series 3029, European Central Bank.
48. D’Hondt, Catherine & De Winne, Rudy & Todorovic, Aleksandar, 2021. "Target Returns and Negative Interest Rates," LIDAM Discussion Papers LFIN 2021011, Université catholique de Louvain, Louvain Finance (LFIN).
49. Ammer, John & Claessens, Stijn & Tabova, Alexandra & Wroblewski, Caleb, 2019. "Home country interest rates and international investment in U.S. bonds," Journal of International Money and Finance, Elsevier, vol. 95(C), pages 212-227.
    • John Ammer & Stijn Claessens & Alexandra M. Tabova & Caleb Wroblewski, 2018. "Home Country Interest Rates and International Investment in U.S. Bonds," International Finance Discussion Papers 1231, Board of Governors of the Federal Reserve System (U.S.).
50. José-Luis Peydró & Andrea Polo & Enrico Sette & Victoria Vanasco, 2020. "Risk Mitigating versus Risk Shifting: Evidence from Banks Security Trading in Crises," Working Papers 1219, Barcelona School of Economics.
    • Peydró, José-Luis & Polo, Andrea & Sette, Enrico, 2020. "Risk Mitigating versus Risk Shifting: Evidence from Banks Security Trading in Crises," CEPR Discussion Papers 15473, C.E.P.R. Discussion Papers.
    • José-Luis Peydró & Andrea Polo & Enrico Sette & Victoria Vanasco, 2020. "Risk mitigating versus risk shifting: evidence from banks security trading in crises," Economics Working Papers 1753, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2023.
    • Peydró, José-Luis & Polo, Andrea & Sette, Enrico & Vanasco, Victoria, 2023. "Risk mitigating versus risk shifting: Evidence from banks security trading in crises," EconStor Preprints 226219, ZBW - Leibniz Information Centre for Economics.
51. Adra, Samer & Barbopoulos, Leonidas G. & Saunders, Anthony, 2020. "The impact of monetary policy on M&A outcomes," Journal of Corporate Finance, Elsevier, vol. 62(C).
52. Ester Faiaa & Sören Karau, 2021. "Systemic Bank Risk and Monetary Policy," International Journal of Central Banking, International Journal of Central Banking, vol. 17(71), pages 1-40, December.
53. Corneille, O. & D’Hondt, C. & De Winne, R. & Efendic, E. & Todorovic, A., 2021. "What leads people to tolerate negative interest rates on their savings?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 93(C).
    • Corneille, Olivier & D'Hondt, Catherine & De Winne, Rudy & Efendic, Emir & Todorovic, Aleksandar, 2020. "What leads people to tolerate negative interest rates on their savings?," LIDAM Discussion Papers LFIN 2020005, Université catholique de Louvain, Louvain Finance (LFIN).
    • Corneille, O. & D’Hondt, Catherine & De Winne, Rudy & Efendic, E. & Todorovic, Aleksandar, 2021. "What leads people to tolerate negative interest rates on their savings?," LIDAM Reprints LFIN 2021011, Université catholique de Louvain, Louvain Finance (LFIN).
54. Bua, Giovanna & Dunne, Peter G., 2019. "Monetary Policy and Money Market Funds," Economic Letters 9/EL/19, Central Bank of Ireland.
55. Maximilian Grimm & Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2023. "Loose Monetary Policy and Financial Instability," NBER Working Papers 30958, National Bureau of Economic Research, Inc.
    • Maximilian Grimm & Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2023. "Loose Monetary Policy and Financial Instability," Working Paper Series 2023-06, Federal Reserve Bank of San Francisco.
    • Grimm, Maximilian & Jordà , Ã’scar & Schularick, Moritz & Taylor, Alan M., 2023. "Loose monetary policy and financial instability," CEPR Discussion Papers 17896, C.E.P.R. Discussion Papers.
56. Falato, Antonio & Iercosan, Diana & Zikes, Filip, 2025. "Banks as regulated traders," Journal of Financial Economics, Elsevier, vol. 170(C).
57. Lahav, Yaron & Benzion, Uri, 2022. "What happens to investment choices when interest rates change? An experimental study," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 471-481.
58. Kuong, John Chi-Fong & O’Donovan, James & Zhang, Jinyuan, 2024. "Monetary policy and fragility in corporate bond mutual funds," Journal of Financial Economics, Elsevier, vol. 161(C).
59. Chen, Mizhou & Li, Pan, 2023. "Household reaching-for-yield behavior and low interest rate in China," Finance Research Letters, Elsevier, vol. 55(PB).
60. Gomes, Francisco & Peng, Cameron & Smirnova, Oksana & Zhu, Ning, 2025. "Reaching for yield: evidence from households," LSE Research Online Documents on Economics 125397, London School of Economics and Political Science, LSE Library.
61. Johannes Bubeck & Angela Maddaloni & José‐Luis Peydró, 2020. "Negative Monetary Policy Rates and Systemic Banks' Risk‐Taking: Evidence from the Euro Area Securities Register," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S1), pages 197-231, October.
    • Bubeck, Johannes & Maddaloni, Angela & Peydró, José-Luis, 2020. "Negative Monetary Policy Rates and Systemic Banks' Risk‐Taking: Evidence from the Euro Area Securities Register," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 52(S1), pages 197-231.
    • Johannes Bubeck & Angela Maddaloni & José-Luis Peydró, 2019. "Negative Monetary Policy Rates and Systemic Banks' Risk-Taking: Evidence from the Euro Area Securities Register," Working Papers 1128, Barcelona School of Economics.
    • Bubeck, Johannes & Maddaloni, Angela & Peydró, José-Luis, 2020. "Negative monetary policy rates and systemic banks’ risk-taking: evidence from the euro area securities register," Working Paper Series 2398, European Central Bank.
    • Bubeck, Johannes & Maddaloni, Angela & Peydró, José-Luis, 2020. "Negative Monetary Policy Rates and Systemic Banks’ Risk-Taking: Evidence from the Euro Area Securities Register," EconStor Preprints 216806, ZBW - Leibniz Information Centre for Economics.
    • Johannes Bubeck & Angela Maddaloni & José-Luis Peydró, 2019. "Negative monetary policy rates and systemic banks’ risk-taking: Evidence from the Euro area securities register," Economics Working Papers 1678, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2020.
    • Bubeck, Johannes & Maddaloni, Angela & Peydró, José-Luis, 2020. "Negative monetary policy rates and systemic banks' risk-taking: Evidence from the euro area securities register," Discussion Papers 37/2020, Deutsche Bundesbank.
62. Arman Gülnur & Nikolaos Antypas, 2023. "Favourable funding conditions: friend or foe of shipping M&As?," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 25(4), pages 728-754, December.
63. Jin, Xisong & Nadal De Simone, Francisco, 2020. "Monetary policy and systemic risk-taking in the Euro area investment fund industry: A structural factor-augmented vector autoregression analysis," Journal of Financial Stability, Elsevier, vol. 49(C).
64. Abraham,Facundo & Cortina Lorente,Juan Jose & Schmukler,Sergio L., 2020. "Growth of Global Corporate Debt : Main Facts and Policy Challenges," Policy Research Working Paper Series 9394, The World Bank.
65. Pelizzon, Loriana & Mattiello, Riccardo & Schlegel, Jonas, 2025. "Growth of non-bank financial intermediaries, financial stability, and monetary policy," SAFE Working Paper Series 458, Leibniz Institute for Financial Research SAFE.
66. Anna Battauz & Marzia Donno & Alessandro Sbuelz, 2017. "Reaching nirvana with a defaultable asset?," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 40(1), pages 31-52, November.
67. Pelizzon, Loriana & Mattiello, Riccardo & Schlegel, Jonas, 2025. "Growth of non-bank financial intermediaries, financial stability, and monetary policy: Prepared for the ECB Forum," SAFE White Paper Series 114, Leibniz Institute for Financial Research SAFE.
68. Nina Boyarchenko & Giovanni Favara & Moritz Schularick, 2022. "Financial Stability Considerations for Monetary Policy: Empirical Evidence and Challenges," Staff Reports 1003, Federal Reserve Bank of New York.
    • Nina Boyarchenko & Giovanni Favara & Moritz Schularick, 2022. "Financial Stability Considerations for Monetary Policy: Empirical Evidence and Challenges," Finance and Economics Discussion Series 2022-006, Board of Governors of the Federal Reserve System (U.S.).
69. Xiaoying Deng & Chong Liu & Seow Eng Ong, 2024. "Shadow Bank, Risk-Taking, and Real Estate Financing: Evidence from the Online Loan Market," The Journal of Real Estate Finance and Economics, Springer, vol. 68(1), pages 1-27, January.
70. Li, Yi, 2021. "Reciprocal lending relationships in shadow banking," Journal of Financial Economics, Elsevier, vol. 141(2), pages 600-619.
71. Semyon Malamud & Andreas Schrimpf, 2016. "Intermediation Markups and Monetary Policy Passthrough," Swiss Finance Institute Research Paper Series 16-75, Swiss Finance Institute.
    • Andreas Schrimpf & Semyon Malamud, 2017. "Intermediation Markups and Monetary Policy Passthrough," 2017 Meeting Papers 812, Society for Economic Dynamics.
    • Schrimpf, Paul & Malamud, Semyon, 2018. "Intermediation markups and monetary policy pass-through," CEPR Discussion Papers 12623, C.E.P.R. Discussion Papers.
72. Lugo, Stefano, 2021. "Short-term debt catering," Journal of Corporate Finance, Elsevier, vol. 66(C).
73. Dasgupta, Amil & Choi, Jaewon & Oh, Ji Yeol Jimmy, 2019. "Bond Funds and Credit Risk," CEPR Discussion Papers 14134, C.E.P.R. Discussion Papers.
    • Choi, Jaewon & Dasgupta, Amil & Oh, Ji, 2022. "Bond funds and credit risk," LSE Research Online Documents on Economics 118856, London School of Economics and Political Science, LSE Library.
74. W. Scott Frame & Eva Steiner, 2022. "Quantitative easing and agency MBS investment and financing choices by mortgage REITs," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(4), pages 931-965, December.
    • W. Scott Frame & Eva Steiner, 2020. "Quantitative Easing and Agency MBS Investment and Financing Choices by Mortgage REITs," Working Papers 2020, Federal Reserve Bank of Dallas, revised 27 Apr 2021.
75. Paul Whelan & Gyuri Venter & Andrea Vedolin & Matteo Leombroni, 2017. "Central Bank Communication and the Yield Curve," 2017 Meeting Papers 844, Society for Economic Dynamics.
76. John Kandrac & Bernd Schlusche, 2017. "Quantitative Easing and Bank Risk Taking: Evidence from Lending," Finance and Economics Discussion Series 2017-125, Board of Governors of the Federal Reserve System (U.S.).
77. Robert Czech & Matt Roberts‐Sklar, 2019. "Investor behaviour and reaching for yield: Evidence from the sterling corporate bond market," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 28(5), pages 347-379, December.
    • Robert Czech & Matt Roberts-Sklar, 2017. "Investor behaviour and reaching for yield: evidence from the sterling corporate bond market," Bank of England working papers 685, Bank of England.
78. Christophe Boucher & Sessi Tokpavi, 2019. "Stocks and Bonds: Flight-to-Safety for Ever?," Post-Print hal-02067096, HAL.
79. Lugo, Stefano, 2023. "Cost of monitoring and risk taking in the money market funds industry," Journal of Financial Intermediation, Elsevier, vol. 53(C).
80. Vokata, Petra, 2021. "Engineering lemons," Journal of Financial Economics, Elsevier, vol. 142(2), pages 737-755.
81. Lin, Shu & Xiao, Jinchuan & Ye, Haichun, 2020. "Disguised carry trade and the transmission of global liquidity shocks: Evidence from China’s goods trade data," Journal of International Money and Finance, Elsevier, vol. 104(C).
82. Pascal François & Stephanie Heck & Georges Hübner & Thomas Lejeune, 2022. "Comoment risk in corporate bond yields and returns," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(3), pages 471-512, September.
83. Sam Miller & Boromeus Wanengkirtyo, 2020. "Liquidity and monetary transmission: a quasi-experimental approach," Bank of England working papers 891, Bank of England.
84. Antonio Falato & Diana A. Iercosan & Filip Zikes, 2019. "Banks as Regulated Traders," Finance and Economics Discussion Series 2019-005r1, Board of Governors of the Federal Reserve System (U.S.), revised 04 Aug 2021.
85. Giuzio, Margherita & Kapadia, Sujit & Kaufmann, Christoph & Storz, Manuela & Weistroffer, Christian, 2025. "Macroprudential policy, monetary policy and non-bank financial intermediation," Working Paper Series 3130, European Central Bank.
86. Carpinelli, Luisa & Crosignani, Matteo, 2021. "The design and transmission of central bank liquidity provisions," Journal of Financial Economics, Elsevier, vol. 141(1), pages 27-47.
87. Samuel G Hanson & David O Lucca & Jonathan H Wright, 2021. "Rate-Amplifying Demand and the Excess Sensitivity of Long-Term Rates," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 136(3), pages 1719-1781.
    • Samuel Hanson & David O. Lucca & Jonathan H. Wright, 2017. "Rate-Amplifying Demand and the Excess Sensitivity of Long-Term Rates," Staff Reports 810, Federal Reserve Bank of New York.
88. John Ammer & Alexandra Tabova & Stijn Claessens, 2018. "Searching for Yield Abroad: Risk-Taking through Foreign Investment in U.S. Bonds," 2018 Meeting Papers 960, Society for Economic Dynamics.
    • John Ammer & Stijn Claessens & Alexandra M. Tabova & Caleb Wroblewski, 2018. "Searching for Yield Abroad : Risk-Taking Through Foreign Investment in U.S. Bonds," International Finance Discussion Papers 1224, Board of Governors of the Federal Reserve System (U.S.).
89. Warinthip Worasak & Nuwat Nookhwun & Pongpitch Amatyakul, 2022. "Monetary Policy and Risk-Taking: Evidence from Thai Corporate Bond Markets," PIER Discussion Papers 186, Puey Ungphakorn Institute for Economic Research.
90. Kim, Hugh Hoikwang, 2020. "Information spillover of bailouts," Journal of Financial Intermediation, Elsevier, vol. 43(C).
91. Wei Jiang & Jitao Ou & Zhongyan Zhu, 2021. "Mutual Fund Holdings of Credit Default Swaps: Liquidity, Yield, and Risk," Journal of Finance, American Finance Association, vol. 76(2), pages 537-586, April.
92. Baars, Maren & Cordes, Henning & Mohrschladt, Hannes, 2020. "How negative interest rates affect the risk-taking of individual investors: Experimental evidence," Finance Research Letters, Elsevier, vol. 32(C).
93. Wang, Wei & Li, Lin, 2024. "Digital payment, money market fund and investment behavior," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
94. Laeven, Luc & Dell'Ariccia, Giovanni & Suarez, Gustavo, 2016. "Bank Leverage and Monetary Policy’s Risk-Taking Channel: Evidence from the United States," CEPR Discussion Papers 11230, C.E.P.R. Discussion Papers.
95. Maurizio Trapanese, 2021. "The economics of non-bank financial intermediation: why do we need to fill the regulation gap?," Questioni di Economia e Finanza (Occasional Papers) 625, Bank of Italy, Economic Research and International Relations Area.
96. Guo, Haifeng & Hung, Chi-Hsiou D. & Kontonikas, Alexandros, 2022. "The Fed and the stock market: A tale of sentiment states," Journal of International Money and Finance, Elsevier, vol. 128(C).
97. Gabriel Jiménez & Enrique Moral-Benito & Raquel Vegas, 2018. "Bank lending standards over the cycle: the role of firms’ productivity and credit risk," Working Papers 1811, Banco de España.
98. Giovanni Dell'Ariccia & Luc Laeven & Gustavo A. Suarez, 2017. "Bank Leverage and Monetary Policy's Risk-Taking Channel: Evidence from the United States," Journal of Finance, American Finance Association, vol. 72(2), pages 613-654, April.
    • Mr. Giovanni Dell'Ariccia & Mr. Luc Laeven & Mr. Gustavo Suarez, 2013. "Bank Leverage and Monetary Policy's Risk-Taking Channel: Evidence from the United States," IMF Working Papers 2013/143, International Monetary Fund.
    • Laeven, Luc & Dell’Ariccia, Giovanni & Suarez, Gustavo A., 2016. "Bank leverage and monetary policy's risk-taking channel: evidence from the United States," Working Paper Series 1903, European Central Bank.
99. La Spada, Gabriele, 2018. "Competition, reach for yield, and money market funds," Journal of Financial Economics, Elsevier, vol. 129(1), pages 87-110.
    • Gabriele La Spada, 2015. "Competition, reach for yield, and money market funds," Staff Reports 753, Federal Reserve Bank of New York.
100. Jonathan Goldberg & Elizabeth C. Klee & Edward Simpson Prescott & Paul R. Wood, 2020. "Monetary Policy Strategies and Tools: Financial Stability Considerations," Finance and Economics Discussion Series 2020-074, Board of Governors of the Federal Reserve System (U.S.).
101. Aldasoro, Iñaki & Balke, Florian & Barth, Andreas & Eren, Egemen, 2022. "Spillovers of funding dry-ups," Journal of International Economics, Elsevier, vol. 137(C).
     • Aldasoro, Inaki & Balke, Florian & Barth, Andreas & Eren, Egemen, 2019. "Spillovers of funding dry-ups," SAFE Working Paper Series 259, Leibniz Institute for Financial Research SAFE.
     • Iñaki Aldasoro & Florian Balke & Andreas Barth & Egemen Eren, 2019. "Spillovers of funding dry ups," BIS Working Papers 810, Bank for International Settlements.
102. Andrea Landi, Alex Sclip, Valeria Venturelli, 2019. "The effect of the Fed zero-lower bound announcementon bank profitability and diversification," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0079, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
103. Ricardo Sabbadini, 2018. "Loss Aversion and Search for Yield in Emerging Markets Sovereign Debt," Working Papers, Department of Economics 2018_16, University of São Paulo (FEA-USP).
     • Ricardo Sabbadini, 2019. "Loss Aversion and Search for Yield in Emerging Markets Sovereign Debt," Working Papers Series 500, Central Bank of Brazil, Research Department.
104. Tyler K. Jensen & Robert R. Johnson & Michael J. McNamara, 2019. "Funding conditions and insurance stock returns: Do insurance stocks really benefit from rising interest rate regimes?," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 22(4), pages 367-391, December.
105. Aramonte, Sirio & Lee, Seung Jung & Stebunovs, Viktors, 2022. "Risk taking and low longer-term interest rates: Evidence from the U.S. syndicated term loan market," Journal of Banking & Finance, Elsevier, vol. 138(C).
106. John Ammer & John Rogers & Gang Wang & Yang Yu, 2023. "Chinese Asset Managers’ Monetary Policy Forecasts and Fund Performance," Management Science, INFORMS, vol. 69(1), pages 598-616, January.
107. Mary C. Daly, 2021. "The Last Resort in a Changing Landscape," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2021(12), pages 01-07, May.
     • Mary C. Daly, 2021. "The Last Resort in a Changing Landscape," Speech 91338, Federal Reserve Bank of San Francisco.