recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current … of the EMU.The following Section II (“The Impact of the Three Major Crises During the Period 2007-2021”) develops on how … crisis have affected the conduct of monetary policy by the European Central Bank (ECB) within the Eurosystem, have led to the …

We identify a novel dimension of monetary policy from high-frequency changes in asset prices around ECB policy events … QE programmes such as the APP launched by the ECB in 2015 aimed to extract duration risk. When including our market …

, rather than appreciate as predicted by standard models. We document this for Fed and ECB policy days using eventstudies and …

international equity markets, the US-dollar exchange rate and US treasuries. A similar pre-drift exists before ECB monetary policy …

:(a) Chapter One focuses on the European Central Bank (ECB) within the European System of Central Banks (ESCB):• the first two … Sections (A and B) briefly discuss the definition and the sources of the law of the Economic and Monetary Union (EMU), as well …) framework governing the ECB's single monetary policy within the Eurosystem (a sub-system of the ESCB, under 1-3). It also …