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 … government bonds, which were clearly not riskless. Moreover, these purchases were undertaken by national central banks at their …