Non disponibile in italiano
Nikoleta Tushteva
Monetary Policy
- Division
Monetary Analysis
- Current Position
-
Research Analyst
- Fields of interest
-
Macroeconomics and Monetary Economics,Financial Economics
- Education
- 2024-
PhD candidate Economics, Goethe University Frankfurt
- 2021-2022
MSc Economics, London School of Economics and Political Science
- 2016-2020
BSc Economics, Heidelberg University
- Professional experience
- 2023-
Research Analyst, Directorate General Monetary Policy, European Central Bank
- 2022-2023
Trainee, Directorate General Monetary Policy, European Central Bank
- 9 January 2025
- WORKING PAPER SERIES - No. 3010Details
- Abstract
- Exploiting the recalibration of ECB’s outstanding central bank funding in 2022, we show that a sharp reabsorption of bank liquidity induces a tightening impact on credit supply, as intended when centralbanks reduce their balance sheets. The tightening originates from the sudden relative convenience for banks accustomed to large liquidity holdings to more rapidly adapt to the new environment. Moreover, we show that the associated reduction in credit supply has real economic effects.
- JEL Code
- E51 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Money Supply, Credit, Money Multipliers
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages - Network
- Challenges for Monetary Policy Transmission in a Changing World Network (ChaMP)
- 2024
- AWI Discussion Paper No. 739 and Rimini Centre for Economic Analysis Working Paper 23-16