Martina Jasova, 10 August 2018

Financial institutions rely on borrowing at short maturities, but when credit markets panic, banks are unable to roll over their short-term debt. Martina Jasova discusses how the ECB’s Very Long-Term Refinancing Operations revived lending in the euro area following the financial crisis, which in turn allowed firms to invest and hire more. The video was recorded at CEPR's Third Annual Spring Symposium.

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