generate highly-significant auction cycles in other countries. Auction cycles can have a non-negligible effect on debt …-servicing costs, but these may be contained by concentrating debt issuance in tranquil periods, and by coordinating auction calendars … among countries, so as to maximize the dispersion of auction activity in time …

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 … auction cycles is more sizeable and precisely estimated for purchases of securities with medium-term maturities and in …

financial regulators and competition authorities. Should competition authorities play a role in financial regulation? Should … evolution of regulation and competition in the financial industry, the paper discusses various issues that are relevant for …Reforms of financial regulation after the crisis of 2007-2009 raise the question of what is the relation between …

The trade-off between bank competition and financial stability has always been a widely and controversial issue, both … among policymakers and academics. This paper empirically re-investigates the relationship between competition and bank risk …-to-default, while we consider the SRISK as a proxy for bank systemic risk. Using the Lerner index as an inverse measure of competition …