Giuzio, Margherita; Kaufmann, Christoph; Ryan, Ellen; … - 2021
We examine the transmission of monetary policy via the euro area investment fund sector using a BVAR framework. We find … search for yield among euro area investors. Search for yield behaviour by fund managers is also evident, as they shift away … expansionary monetary policy, this dynamic may give rise to a build-up in liquidity risk over time, leaving the fund sector less …