On the impact of quantitative easing on credit standards and systemic risk: The Japanese experience

摘要

This study provides empirical evidence on the impact of quantitative easing on credit standards and systemic risk in Japanese banks. Quantitative easing leads to softened credit standards of approving loan applications. Bank systemic risk, however, decreases following the expansion of asset purchase programmes. (C) 2019 Elsevier B.V. All rights reserved.