Quantitative easing in the Euro Area – An event study approach

•Yields reacted stronger for initial than for later QE press releases.•Burdensome set up tightens the hands of the ECB.•Cumulative average yield reductions vary from −6 BPS for Germany to −86 BPS for Portugal.•Controlling for reduced CDS prices indicates an implicit lowering of credit risk.•Only mil...

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Veröffentlicht in:	The Quarterly review of economics and finance 2020-08, Vol.77, p.14-36
Hauptverfasser:	Urbschat, Florian, Watzka, Sebastian
Format:	Artikel
Sprache:	eng
Schlagworte:	APP Bonds Central banks Event study Financial markets Large scale Asset Purchase Quantitative easing Yield curve
Online-Zugang:	Volltext
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