central bank purchases reduce the free-float of duration risk and hence compress term premia of yields. We estimate the stock …

We trace the impact of the European Central Bank (ECB) asset purchase programme (APP) on the yield curve. Exploiting … which central bank purchases reduce the free-float of duration risk and hence compress term premia of yields. We estimate …

The European Central Bank is unique in setting monetary policy for several sovereign states with heterogeneous debt … on one particular aspect of that nexus, the effect the reliability of the European Central Bank's monetary policy on … Euro Area countries. For comparison we also estimate the fiscal consequences of the Federal Reserve and the Bank of England …

We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central …

European financial markets. We analyse monetary policy actions of the European Central Bank (ECB), the Bank of England, the … Swiss National Bank, and the Swedish Riksbank on major stock indices. First, in line with the Rigobon and Sack (2004 …

whether the central bank chooses to buy domestic or foreign assets, thus resulting in transfers either within or between … compensates for losses (the structure of indemnification agreements). Data from the Federal Reserve, the Eurosystem, and the Bank … of England show that maximum annual losses are between 0.3 and 1.5 percent of GDP. By contrast, the Swiss National Bank …