yield components,we find that the UMP decreases the market component for all countries. It decreasesthe risk …

flattening of euro area yield curves. Our findings indicate positive effects on real activity and prices, both within the euro …-step-ahead forecasts conditional on the euro area yield curve shock improve Sharpe ratios relative to other investment strategies. …

monetary policy shock across different countries, maturities, yield components and over time. The results identify a significant … liquidity. When we decompose the impact into separate yield components, we find that unconventional shocks decreased the common …

points for B rated sovereigns. Fiscally weaker Eurozone countries benefited most from Quantitative Easing, with their …