Programy skupu aktywow Europejskiego Banku Centralnego w dobie kryzysu zadluzeniowego w strefie euro / European Central Bank’s asset purchase programs in the age of the debt crisis in the Eurozone

Wojciech Grabowski and Ewa Stawasz
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Ewa Stawasz: University of Lodz

International Economics, 2013, issue 4, 5-21

Abstract: The aim of the article is to analyse the effectiveness of the asset purchase programs implemented by the European Central Bank during the sovereign debt crisis of some euro area countries (i.e. Securities Markets Programme i Outright Monetary Transactions). We examine how those programs translate into changes in sovereign bond yields. With the aid of the Akaike information criterion we conclude that the impact of the Outright Monetary Transactions was more durable.

Keywords: euro area sovereign debt crisis; asset purchase programs; AIC (search for similar items in EconPapers)
JEL-codes: E58 F34 F36 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ann:inecon:y:2013:i:4:p:5-21

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