life of term bonds in order to understand the yield curve effect of central banks’ government bond purchases. Motivated by … structure model. We find that an asset purchase shock equivalent to 10% of euro area GDP lowers the 10-year average yield of the …-free (OIS) yield curve, the same shock lowers the 10-year rate and term premium by 35 and 26 bp, respectively. …

life of term bonds in order to understand the yield curve effect of central banks’ government bond purchases. Motivated by … structure model. We find that an asset purchase shock equivalent to 10% of euro area GDP lowers the 10-year average yield of the …-free (OIS) yield curve, the same shock lowers the 10-year rate and term premium by 35 and 26 bp, respectively. …

von Immobilieninvestments in den USA und UK verdeutlicht, dass Immobilienaktienindizes nach wie vor als …

We demonstrate that bond yield compression is under way in the countries converging to the euro and that German yields …

for testing the null hypothesis of no cointegration against alternatives which are fractionally cointegrated. Fractional … cointegration would imply that, although there exists a long-run relationship, the equilibrium errors exhibit slow reversion to zero …. It is found that the null hypothesis of no cointegration cannot be rejected for Japan. By contrast, there is some …

standard and international trade. The estimation results allow us to formulate some interesting policy conclusions. …

reallocations and plant-level technical efficiency changes while allowing in the estimation for 459 different production …