http://www.bis.org/cbhub/list/author/author_11471/index.rss Research hub papers by author Carlos Garcia de Andoain en http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1755.en.pdf European Central Bank Working papers by Peter Hoffmann, Simone Manganelli, Carlos Garcia de Andoain Fragmentation in the euro overnight unsecured money market 2014-12-19T12:31:59Z This paper examines the degree of fragmentation in the Euro overnight unsecured money market during the period June 2008 August 2013 using interbank loans constructed from payments data. After controlling for cross-country differences in bank risk, we document several episodes of significant market fragmentation. While non-standard measures such as the provision of long-term liquidity were successful in reducing tensions, considerable signs of market fragmentation remained at the end of the sample period. Fragmentation in the euro overnight unsecured money market 2014-12-19T12:31:59Z ECB Full text http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1755.en.pdf Simone Manganelli Carlos Garcia de Andoain Peter Hoffmann Peter Hoffmann, Simone Manganelli, Carlos Garcia de Andoain 2014-12-19 European Central Bank Working papers E5 G1