Freitag, 21 Dezember 2018 14:01
VoxEU, just published: "Event studies and the random walk hypothesis: Why the end of bond buying by the ECB is a non-event" by Ansgar Belke and Daniel Gros
The ending of the ECB's bond buying programme had no impact on interest rates. In this post, Ansgar Belke and Daniel Gros argue that this is because while the programme might have lowered rates when it was announced, the impact was only transitory.
You can read this article here.