on the risk perception of market participants. Using a large data set covering the time period from pre-crisis 2006 until … the end of 2013, I provide empirical evidence that the deteriorated market conditions cause the shape of the risk … purchase programs such as the Covered Bond Purchase Program (CBPP) and the Securities Market Program (SMP) have a risk …

reduction is mostly due to a decreasing risk component of southern bonds. In fact, once controlling for this implicit credit … risk reduction we find rather mild effects from portfolio rebalancing for all countries. …

COVID-19 has quickly emerged as a novel risk, generating feverish behavior among investors, and posing unprecedented …COVID-19 hat sich schnell zu einem neuartigen Risiko entwickelt, das bei Investoren ein nervöses Verhalten hervorruft …

systemic risk for a panel of large banks in the Eurozone between 2002 and 2018. The empirical evidence suggests that the ECB is … and significant impact on banks' contribution to systemic risk. However, the results indicate that this influence varies … line with its own policy objectives at time. Additional analyses show that banks that contribute more to systemic risk tend …