bonds of the own sovereign by the national central bank should increase the risk for the remaining private bond holders … announced. However, the initial fall in risk premia might have been due to the expectation of the bond being effective in … event studies). Nor did the announcements of bond buying change the stochastics of these premia. One should thus not expect …

bank of the bonds of their own sovereign should increase the risk for the remaining private bond holders. This might seem … initial fall in risk premiums may have been due to expectations of the bond purchases proving effective in lowering risk … studies). Nor did the announcements of bond buying change the stochastics of these premiums. There is thus no reason to …

-term real rates is even more limited and indirect.Moreover, long-term bond yields have fallen to unprecedented low levels … throughout developed countries. The influence of any single central bank on bond yields in its currency area must be quite …

innerhalb einer Währungsunion ist wünschenswert, unter anderem um die Stabilisierungsfunktion der Geldpolitik zu erleichtern … nationalen Konjunkturzyklen, welche die Durchführung der gemeinsamen Geldpolitik erschweren. …