The notes in this compilation review the main features (size, structure, etc.) of sovereign bond markets in euro area Member States and discuss, in the relation to expanded asset purchase programme (EAPP) of the ECB, the financial risks the Eurosystem is potentially taking on its balance sheet...

The notes in this compilation review the main features (size, structure, etc.) of sovereign bond markets in euro area Member States and discuss, in the relation to expanded asset purchase programme (EAPP) of the ECB, the financial risks the Eurosystem is potentially taking on its balance sheet...

In the current monetary policy framework, the ECB (as most central banks) set a target for the annual inflation rate as a nominal anchor to maintain price stability. The ECB inflation rate is defined as the year-on-year percentage change of the harmonised index of consumer prices. Nominal GDP...

We study the evolution of the response of fiscal policy to monetary policy shocks in the EMU in the light of two important events: the signing of the Maastricht treaty in 1992 and the introduction of the EMU in 1999. Based on impulse responses from a panel VAR, we find that fiscal and monetary...