We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players - the ECB or the EU fiscal level - has been more crucial for the stabilization of...

The concerns of macroeconomic policymakers regarding the management of the COVID-19 crisis are reflected by the major, unbending, and brisk interventions they have had, including monetary authorities. The present paper aims at identifying central banks' contributions in managing the pandemic...

This paper provides evidence of a highly fragmented European interbank market that is tightened during the COVID-19 pandemic, when the interbank market was under stress. Using a unique dataset of unsecured, overnight interbank loans at the transactional level allows me to apply advanced panel...