EconPapers    
Economics at your fingertips  
 

Sovereign risk, European crisis resolution policies and bond yields

Juha Kilponen (), Helinä Laakkonen () and Jouko Vilmunen ()

No 22/2012, Research Discussion Papers from Bank of Finland

Abstract: We study the effects of the ECB monetary policy and the European crises resolution policies on the 10 year sovereign bond yields of seven European countries. We find that some of the decisions have had significant impact on sovereign bond yields and have succeeded in reducing stress in the financial markets. However, the impact of the same policy decision might have been positive for some countries while negative for others, suggesting that contagion effects may be important. The economically most significant effects on the bond yields have been due to the announcement of ECB's Securities Market Programme.

Date: 2012-06-15
References: Add references at CitEc
Citations: View citations in EconPapers (19) Track citations by RSS feed

Published in Published in International Journal of Central Banking, Volume 11, Number 2, March 2015: 285-323 ; http://www.ijcb.org/journal/ijcb15q2a8.htm

Downloads: (external link)
https://helda.helsinki.fi/bof/bitstream/123456789/7849/1/170629.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bof:bofrdp:2012_022

Access Statistics for this paper

More papers in Research Discussion Papers from Bank of Finland Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland. Contact information at EDIRC.
Bibliographic data for series maintained by Minna Nyman ().

 
Page updated 2022-12-03
Handle: RePEc:bof:bofrdp:2012_022