Market Hypothesis sense. The paper tries to show that this so-called excess volatility is to a large extend the result of the … employing the Gordon Growth Model and using an estimation process for the dividend growth rate that was suggested by Barsky and …, constant dividend growth rates as well as non-variable discount rates. It is shown that indeed volatility declines considerably …

FIDESSA. In accordance with the market microstructure literature stating that fragmentation affects volatility at the …

debt markets around new sovereign debt auctions. This effect increases in market volatility. Cycles caused by domestic … auctions and the role of market volatility are largest for countries with low credit ratings. Auctions by these countries … generate highly-significant auction cycles in other countries. Auction cycles can have a non-negligible effect on debt …

This study provides new evidence on the relationship between unconventional monetary policy and auction cycles in the … public debt auctions. The findings indicate that Eurosystem's asset purchase flows mitigate yield cycles during auction … periods and counteract the amplification impact of market volatility. The dampening effect of central bank asset purchases on …

observed in the stock market volatility. In this paper we perform a panel data analysis on a sample of large European banks … finding that in 2016 the model for the stock market volatility changes and the changes can be theoretically consistent with … the introduction of the BRRD. Moreover Italy shows an even larger volatility. This could be due to the strong presence of …