The Net Stable Funding Ratio and Bankss Participation in Monetary Policy Operations: Some Evidence for the Euro Area

2013 ◽  
Author(s):  
Antonio Scalia ◽  
Sergio Longoni ◽  
Tiziana Rosolin
Keyword(s):  
Monetary Policy ◽  
Euro Area

Country-specific euro area government bond yield reactions to ECB’s non-standard monetary policy program announcements

2020 ◽  
Vol 21 (4) ◽  
pp. 417-474 ◽  
Author(s):  
Ralf Fendel ◽  
Frederik Neugebauer
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Yield Reduction ◽  
Government Bond ◽  
Bond Yields ◽  
Bond Yield ◽  
Current Spread ◽  
Policy Program ◽  
Government Bond Markets ◽  
Country Specific

AbstractThis paper employs event study methods to evaluate the effects of ECB’s non-standard monetary policy program announcements on 10-year government bond yields of 11 euro area member states. Measurable effects of announcements arise with a one-day delay meaning that government bond markets take some time to react to ECB announcements. The country-specific extent of yield reduction seems inversely related to the solvency rating of the corresponding countries. The spread between core and periphery countries reduces because of a stronger decrease in the latter. This result is confirmed by letting the announcement variable interact with the current spread level.

scholarly journals An empirical assessment of Optimal Monetary Policy in the Euro area

2017 ◽  
Vol 100 ◽  
pp. 95-115 ◽  
Author(s):  
Xiaoshan Chen ◽  
Tatiana Kirsanova ◽  
Campbell Leith
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Optimal Monetary Policy ◽  
Empirical Assessment
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