default probability, showing that it decreases with central bank bond-holdings. Calibrating the model to Germany and Italy, we …

combines government bond interest rates by maturity, fluctuates to reflect various macroeconomic factors. Central bank monetary …

/unconventional monetary policies on sovereign bond return spillovers across countries and maturities since February 2007. Following the Taper …

The appearance of negative bond yields presents significant challenges for the fixed income markets, which mainly … negative sovereign bond yields. We conclude that the model adjusted well for all countries' yield curves, although no changes …

calibrated model we find that 10-year euro area bond returns decline by 31 basis points in response to €1 trillion in central … bank bond purchases, which is in line with the empirical literature. QE leads to a substantial flattening of the yield … bond yields than conventional QE. However, the spread between green and brown bond yields decreases with conventional QE …