Corradin, Stefano; Grimm, Niklas; Schwaab, Bernd - 2021
We decompose euro area sovereign bond yields into five distinct components: i) expected future short-term risk … framework to study the impact of European Central Bank (ECB) monetary policy and European Union (E.U.) fiscal policy …- fect on yields, mostly through default, redenomination, and segmentation premia. While the ECB's unconventional monetary …