This paper estimates the effect of the European Central Banks's monetary policy on the term structure of expected stock market risk premia. Expected stock market premia are solved using analysts' dividend forecasts, the Eurostoxx 50 stock index and Eurostoxx 50 dividend futures. Although...

We analyse the accuracy of an econometric model for nowcasting GDP growth in a true real-time setting. The analysis is based on a unique sample of nowcasts that were produced in real time and stored. Our results support the use of econometric models for nowcasting because the accuracy of these...

This paper estimates the effect of monetary policy on the term structure of stock market risk premia. Stock market risk premia are solved using analysts’ dividend forecasts and dividend future prices. Although risk-free rates have decreased after the global financial crisis, the results...

This paper estimates the effect of monetary policy on the term structure of stock market risk premia. Stock market risk premia are solved using analysts’ dividend forecasts and dividend future prices. Although risk-free rates have decreased after the global financial crisis, the results...

We study asymmetric inflation effects of both conventional and unconventional monetary policy in the euro area during the period of low nominal interest rates. We find that rate cuts are inflationary also during low interest rates. Positive quantitative easing surprises have a deflationary...

This paper estimates the effect of monetary policy on the term structure of stock market riskpremia. The implied stock market risk premia are obtained using analysts’ dividend forecastsand dividend future prices. The effect of monetary policy on risk premia is analysed using localprojections...

This letter analyses the relationship between the term structure of stock market risk premia and the key macroeconomic variables: inflation and GDP growth. The term structure of risk premia is obtained using a new method that utilises dividend future contracts and analysts’ dividend...

We study asymmetric inflation effects of both conventional and unconventional monetary policy in the euro area during the period of low nominal interest rates. We find that rate cuts are inflationary also during low interest rates. Positive quantitative easing surprises have a deflationary...