Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy

2019 ◽  
Author(s):  
Wenxin Du ◽  
Carolin E. Pflueger ◽  
Jesse Schreger
Keyword(s):  
Monetary Policy ◽  
Sovereign Debt ◽  
Debt Portfolios

Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy

2020 ◽  
Vol 75 (6) ◽  
pp. 3097-3138
Author(s):  
WENXIN DU ◽  
CAROLIN E. PFLUEGER ◽  
JESSE SCHREGER
Keyword(s):  
Monetary Policy ◽  
Sovereign Debt ◽  
Debt Portfolios

scholarly journals ECB policy responses between 2007 and 2014: A chronological analysis and an assessment of their effects

2016 ◽  
Vol 63 (4) ◽  
pp. 455-473 ◽  
Author(s):  
Carlos Rodríguez ◽  
Carlos Carrasco
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Interest Rates ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Lender Of Last Resort ◽  
Policy Responses ◽  
The One ◽  
The Global Financial Crisis

The paper analyses the monetary policy responses of the European Central Bank (ECB) to the global financial crisis and the European sovereign debt crisis. Our goals are on the one hand to explain chronologically the main measures in conventional and unconventional policies adopted by the ECB and on the other hand to analyse their effects on key interest rates, monetary aggregates and the money multiplier. The assessment is that the ECB?s monetary policy responses to the crisis have been ?too little, too late?, constrained by the institutional framework, which prevents the ECB from acting as a true central bank with the role of lender of last resort.

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