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France, Germany, Italy, and Spain. The scenario analysis suggests that the reduction in bond yields due to OMT announcements … Central Bank (ECB). Using high-frequency data, we find that OMT announcements decreased the Italian and Spanish 2-year … government bond yields by about 2 percentage points, while leaving unchanged the bond yields of the same maturity in Germany and …
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This paper investigates the relationship between the euro-dollar exchange rate and its underlying fundamentals. First, we develop a simple theoretical model in which chartists and fundamentalists interact. This model predicts the existence of different regimes, and thus nonlinearities in the...
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Each year Germany and many other developed economies spend tens of billions of Euros on active measures of employment … offices in Germany. To this end, we analyze ALMP in Germany in a spatially augmented regression framework. Our results suggest …
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