Abstract Launched in Summer 2012, the European Central Bank's (ECB) Outright Monetary
Transactions (OMT) program indirectly recapitalized European banks through its positive …

This study employs dynamic connectedness as a measure of financial risk synchronization
considering government bond yields in 11 EMU member states. In particular, large values of …

We propose a new methodology based on copula functions to estimate CoVaR, the Value-at-
Risk (VaR) of the financial system conditional on an institution being under financial distress …

Abstract The European Central Bank's (ECB) market-based treatment of government debt
was an important cause of the 2010–2012 eurozone crisis. This article analyses the political …

This paper investigates the role of unconventional monetary policy as a source of time-
variation in the relationship between sovereign bond yield spreads and their fundamental …

Monetary financing–the issuance of public money to support public expenditure–remains a
widespread policy taboo. In this article, we analyze the operational practices of the Bank of …

We aim to determine Eurozone sovereign bond spreads and the ECB's influence through a
generalised model. In a multidimensional structure we regress an extensive set of variables …

We analyse the effects of low and negative interest rates and sovereign risk premium on
bank profitability among 154 Eurozone banks during the period 2005–2019. In contrast to …

We assess from a financial stability standpoint the effectiveness of two significant
interventions of the European Central Bank (ECB) during the sovereign debt crisis. By being …

In the wake of the Euro crisis, the mission statement on the European Central Bank's (ECB)
website was changed from 'Our mission is to serve Europe's citizens' to 'Our mission is to …