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"Whatever it takes" to resolve the European sovereign debt crisis? : bond pricing regime switches and monetary policy effects
Afonso, António; Arghyrou, Michael Georgiou; Gadea, … - 2017
This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...
Persistent link: https://www.econbiz.de/10011735972
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The Determinants of Sovereign Bond Yield Spreads in the EMU
Afonso, António - 2013
We use a panel of euro area countries to assess the determinants of long-term sovereign bond yield spreads over the …
Persistent link: https://www.econbiz.de/10013086207
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On the Time-Varying Relationship between EMU Sovereign Spreads and Their Determinants
Afonso, António - 2013
We use a dynamic multipath general-to-specific algorithm to capture structural instability in the link between euro … relationship between euro area sovereign risk and the underlying fundamentals is strongly time-varying, turning from inactive to … rule, the set of financial and macro spreads' determinants in the euro area is rather unstable but generally becomes richer …
Persistent link: https://www.econbiz.de/10013086268
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What do we really know about fiscal sustainability in the EU? : a panel data diagnostic
Afonso, António (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003641707
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Unconventional monetary policy in the euro area : impacts on loans, employment, and investment
Afonso, António; Pereira, Francisco Gomes - 2022
transmission effectiveness of ECB’s large-scale asset purchasing programs programs (i.e. APP and PEPP) in the Euro area. Our …
Persistent link: https://www.econbiz.de/10012888479
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Bank’s risk-taking channel of monetary policy and TLTRO : evidence from the eurozone
Afonso, António; Ferreira, Jorge Braga - 2024
Using a panel data approach with bank-fixed effects, we study the impact of Targeted Longer-Term Refinancing Operations …
Persistent link: https://www.econbiz.de/10014533785
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The effects of monetary policy surprises and fiscal sustainability regimes in the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
projection model for the Euro Area (aggregate data), Germany, Italy, and Portugal, we analyze the interaction between both … even positive). The dependence of the effectiveness of monetary policy on fiscal solvency is valid for Euro-Area and all …
Persistent link: https://www.econbiz.de/10014313459
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Monetary policy surprise shocks under different fiscal regimes : a panel analysis of the Euro Area
Afonso, António; Alves, José; Ionta, Serena - 2023
fiscal stances in the period 2001Q4-2021Q4 for a panel of the 19 countries of the Euro Area. Applying local projection …
Persistent link: https://www.econbiz.de/10014336399
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Does monetary policy influence Euro area fiscal sustainability?
Afonso, António; Pereira, Francisco Gomes - 2024
This paper studies the impact of monetary policy on fiscal sustainability in the euro area. Our sample includes 12 euro …
Persistent link: https://www.econbiz.de/10015046233
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Revisiting Business Cycle Synchronisation in the European Union
Afonso, António - 2010
We assess the business cycle synchronization features of aggregate output in the 27 EU countries using annual data for the period 1970-2009. In particular, we compute measures of synchronisation for private consumption, government spending, gross fixed capital formation, exports and imports. Our...
Persistent link: https://www.econbiz.de/10013135661