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Driven by the markets? : ECB sovereign bond purchases and the securities markets programme
Belke, Ansgar - 2010
After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to purchase European government bonds - to ensure an “orderly monetary policy transmission mechanism”. Many observers argued that, by bond purchases, national fiscal policies could...
Persistent link: https://www.econbiz.de/10010208777
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Driven by the Markets? ECB Sovereign Bond Purchases and the Securities Markets Programme
Belke, Ansgar - 2010
Analysten äußern Bedenken, dass durch die Anleihenkäufe von nun an die Geldpolitik von den nationalen Fiskalpolitiken dominiert …
Persistent link: https://www.econbiz.de/10010273588
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Driven by the markets? ECB sovereign bond purchases and the securities markets programme
Belke, Ansgar - 2010
After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to purchase European government bonds - to ensure an 'orderly monetary policy transmission mechanism'. Many observers argued that, by bond purchases, national fiscal policies could...
Persistent link: https://www.econbiz.de/10010327302
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Driven by the Markets? ECB Sovereign Bond Purchases and the Securities Markets Programme
Belke, Ansgar - Rheinisch-Westfälisches Institut für … - 2010
After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to purchase European government bonds – to ensure an “orderly monetary policy transmission mechanism”. Many observers argued that, by bond purchases, national fi scal policies...
Persistent link: https://www.econbiz.de/10008641787
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Driven by the Markets?: ECB Sovereign Bond Purchases and the Securities Markets Programme
Belke, Ansgar - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to purchase European government bonds - to ensure an “orderly monetary policy transmission mechanism”. Many observers argued that, by bond purchases, national fiscal policies could...
Persistent link: https://www.econbiz.de/10008492948
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Driven by the markets? : ECB sovereign bond purchases and the securities markets programme
Belke, Ansgar - 2010
addresses how effective these sterilisation policies are. -- Accountability ; bail-out ; bond purchases ; central bank … independence ; insolvency risk ; Securities Markets Programme ; transparency … Analysten äußern Bedenken, dass durch die Anleihenkäufe von nun an die Geldpolitik von den nationalen Fiskalpolitiken dominiert …
Persistent link: https://www.econbiz.de/10008933298
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Driven by the markets? : ECB sovereign bond purchases and the securities market programme
Belke, Ansgar - 2010
should deal primarily with the asset side of the ECB balance sheet. [...] -- Accountability ; bail-out ; bond purchases … ; central bank independence ; insolvency risk ; Securities Markets Programme ; transparency …
Persistent link: https://www.econbiz.de/10009261344
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How much fiscal backing must the ECB have? : the euro area is not the Philippines
Belke, Ansgar - 2010
The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations ("repo"). This has led some commentators to argue that the ECB needs "fiscal...
Persistent link: https://www.econbiz.de/10010208780
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How Much Fiscal Backing Must the ECB Have? – The Euro Area is Not the Philippines
Belke, Ansgar Hubertus - 2010
The ECB has accepted increasing amounts of rubbish collateral since the crisis started leading to exposure to serious private sector credit risk (i.e. default risk) on its collateralised lending and reverse operations (“repo”). This has led some commentators to argue that the ECB needs...
Persistent link: https://www.econbiz.de/10013142783
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Driven by the Markets? ECB Sovereign Bond Purchases and the Securities Markets Programme
Belke, Ansgar Hubertus - 2010
Persistent link: https://www.econbiz.de/10013138570