We propose a new interest rate rule that implements the optimal equilibrium and eliminates all indeterminacy in a …

issue that arose in Europe in the late 1990s: the importance of financial structure for the convergence of monetary … importance of financial structure and its impact on the convergence of the effects of monetary policy. We find convergence in … convergence of monetary transmission in Europe. …

issue that arose in Europe in the late 1990s: the importance of financial structure for the convergence of monetary … importance of financial structure and its impact on the convergence of the effects of monetary policy. We find convergence in … convergence of monetary transmission in Europe. …

This study examines the asymmetric adjustments to the long-run equilibrium for credit default swap (CDS) sector indexes … return in each sector pair participates in the adjustment to equilibrium in the short- and long-run taken together. But in … the long-run alone, only one of the two spreads in each pair participates. Policy implications are also provided. …

incompatible with the observation that risk spreads on peripheral bonds fell when QE in the euro area was announced. However, the … erscheinen, dass die Risikoaufschläge ('Spreads') für Anleihen von Peripheriestaaten mit der Bekanntgabe des QE im Euroraum …

. This might seem incompatible with the observation that risk spreads on peripheral bonds fell when the Euro area's QE was …

between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond … characterised by a weakened link between spreads and fundamentals, but with higher spreads relative to the pre-crisis period and …