Belke, Ansgar; Gros, Daniel - 2019
Quantitative Easing (QE) because the ECB’s Public Sector Purchase Programme (PSPP) involved the purchase of peripheral euro area …The asset purchase programme of the euro area, active between 2015 and 2018, constitutes an interesting special case of … incompatible with the observation that risk spreads on peripheral bonds fell when QE in the euro area was announced. However, the …