# Professor Viral Acharya discusses his research on unconventional monetary policy

1 Faculty News August 18, 2016 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://www.nytimes.com/2016/08/19/business/dealbook/italian-banks-continue-to-lend-to-stagnant-companies-as-debt-pile-mounts.html?_r=0) -- "'These zombie loans are just bad for the economy,' said [Viral V. Acharya](http://w4.stern.nyu.edu/faculty/bio/viral-acharya), one of the report’s authors and a specialist in European debt at New York University’s Stern School of Business. 'The problem is that Europe never injected capital into its banks like TARP in the U.S.'"

[Read more](http://www.nytimes.com/2016/08/19/business/dealbook/italian-banks-continue-to-lend-to-stagnant-companies-as-debt-pile-mounts.html?_r=0)