ECB Policy and Eurozone Fragility: Was De Grauwe Right?
The authors test Paul De Grauwe’s eurozone fragility hypothesis using a time window around the announcement of the Outright Monetary Transactions (OMT) programme. The findings reveal significant contagion from Spain to other eurozone countries, but solely during the pre-announcement period. The authors conclude that in this case the OMT programme has succeeded in mitigating the self-fulfilling dynamics within the eurozone.
Year of publication: |
2014-06
|
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Authors: | Fuertes, Ana-Maria ; Kalotychou, Elena ; Saka, Orkun |
Institutions: | Centre for European Policy Studies (CEPS) |
Saved in:
freely available
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