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FIRE for the euro : a strategy for stabilizing government bond markets
Heinemann, Friedrich - 2012
The aggravating turbulences in the market for euro government bonds have so far precluded any recovery from the debt crisis. The key problem is that structural reforms and consolidation measures have long impact lags and are not able to stop an acute self-fulfilling crisis of confidence. In the...
Persistent link: https://www.econbiz.de/10010497246
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Sovereign risk premia : the link between fiscal rules and stability culture ; conference paper
Heinemann, Friedrich; Osterloh, Steffen; Kalb, Alexander - 2013
There is a growing empirical literature studying whether fiscal rules reduce borrowing costs. Nevertheless, it remains an open question whether these rules are effective genuinely or just because they mirror fiscal preferences of politicians and voters. In our analysis of European bond spreads,...
Persistent link: https://www.econbiz.de/10010336738
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Sovereign risk premia : the link between fiscal rules and stability culture
Heinemann, Friedrich; Osterloh, Steffen; Kalb, Alexander - 2013 - This version: March 2013
There is a growing empirical literature studying whether fiscal rules reduce borrowing costs. Nevertheless, it remains an open question whether these rules are effective genuinely or just because they mirror fiscal preferences of politicians and voters. In our analysis of European bond spreads,...
Persistent link: https://www.econbiz.de/10009721879
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Dispelling the shadow of fiscal dominance? : fiscal and monetary announcement effects for euro area sovereign spreads in the corona pandemic
Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021 - This version: June 2021
We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government … bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players - the ECB or the EU … only for the announcement of the 'Next Generation EU' program. In contrast, a temporary relaxation of European fiscal rules …
Persistent link: https://www.econbiz.de/10012534642
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Magnitudes and capital key divergence of the Eurosystem's PSPP/PEPP purchase - update June 2023 : study supported by the Brigitte Strube Foundation
Birkholz, Carlo; Heinemann, Friedrich - 2023
In this report we update the quantitative analysis of the PEPP and PSPP conduct and analyze whether reinvestments are actually made in accordance to these claims. In prior versions of our report, we have detected patterns in the net purchases under PEPP and PSPP, which suggested systematic and...
Persistent link: https://www.econbiz.de/10014249465
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Sovereign Risk Premia : The Link between Fiscal Rules and Stability Culture
Heinemann, Friedrich - 2013
There is a growing empirical literature studying whether fiscal rules reduce borrowing costs. Nevertheless, it remains an open question whether these rules are effective genuinely or just because they mirror fiscal preferences of politicians and voters. In our analysis of European bond spreads,...
Persistent link: https://www.econbiz.de/10013085156
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Dispelling the Shadow of Fiscal Dominance? Fiscal and Monetary Announcement Effects for Euro Area Sovereign Spreads in the Corona Pandemic
Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021
We use event study regressions to compare the impact of EU monetary versus fiscal policy announcements on government … bond spreads of ten euro member countries. Our motivation is to evaluate which of the two players – the ECB or the EU … only for the announcement of the ‘Next Generation EU’ program. In contrast, a temporary relaxation of European fiscal rules …
Persistent link: https://www.econbiz.de/10013221648
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Dispelling the shadow of fiscal dominance? : fiscal and monetary announcement effects for euro area sovereign spreads in the Corona pandemic
Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021
economic consequences of pandemic disruptions. In addition, EU Member States have designed stimulus packages in order to …
Persistent link: https://www.econbiz.de/10013488768