Have a personal or library account? Click to login
Integration of Government Bond Market in the Euro Area and Monetary Policy Cover

Integration of Government Bond Market in the Euro Area and Monetary Policy

By: Velimir Lukić  
Open Access
|Jan 2016

References

  1. 1. Abad, P., Chulia H. & Gomez-Puig M. (2009). EMU and European Government Bond Market Integration, European Central Bank, Working Paper Series No.1079.
  2. 2. Baele, L., Fernando, A., Hördhal, P., Krylova, E. & Monnet C. (2004). Measuring Financial Integration in the Euro Area, European Central bank, Occasional Paper Series No. 14.
  3. 3. Becker, S. (2009). EMU sovereign spread widening, Deutsche Bank Research, EU Monitor 68.
  4. 4. Belke, A. (2010). Driven by the Markets? ECB Sovereign Bond Purchases and the Securities Markets Programme, Intereconomics, 6(2010), 357-363.10.1007/s10272-010-0356-1
  5. 5. Benoît, C. (2015, March 10). Embarking on public sector asset purchases. Speech at the Second International Conference on Sovereign Bond Markets, Frankfurt. Retrieved from: https://www.ecb.europa.eu/press/key/date/2015/html/sp150310_1.en.html.
  6. 6. Blundell-Wignall, A. & Patrick S. (2010). A Market Perspective on the European Sovereign Debt and Banking Crisis. OECD Journal: Financial Market, 2(2010), 1-28.
  7. 7. Curdia, V. & Woodford, M. (2011). The central-bank balance sheet as an instrument of monetary policy. Journal of Monetary Economics, 1(58). 54-79.10.1016/j.jmoneco.2010.09.011
  8. 8. D’Amico, S., English, W., López-Salido, D. & Nelson., E. (2012). The Federal Reserve’s Large-scale Asset Purchase Programmes: Rationale and Effects. The Economic Journal, 564 (122): 415-446.
  9. 9. De Haan, J., Oosterloo S. & Schoenmaker D. (2009). European Financial Markets and Institutions. Cambridge: Cambridge University Press.10.1017/CBO9780511806230
  10. 10. De Pooter, M., DeSimone, R., Martin, R. & Pruit, S. (2015), Cheap Talk and the Efficacy of the ECB’s Securities Markets Programme: Did Bond Purchases Matter? Federal Reserve Board of Governors, International Finance Discussion Papers No. 1139.
  11. 11. De Pooter, M., Martin, R. & Pruitt S. (2012). The effects of official bond market intervention in Europe. Federal Reserve Board of Governors, Working Paper.10.2139/ssrn.2143326
  12. 12. Economic and Financial Committee. (2000). Progress Report on EU government Bond instruments. Brussels: EFC.
  13. 13. Ehrmann, M. & Fratzscher M. (2015). Euro Area Government Bonds – Integration and Fragmentation During the Sovereign Debt Crisis, Centre for Economic Policy Research, Discussion Paper No. 10583.
  14. 14. Eser, F. & Schwaab, B. (2015). Evaluating the impact of unconventional monetary policy measures: Empirical evidence from the ECB’s Securities Markets Programme. Journal of Financial Economics, Accepted Manuscript, doi:10.1016/j.jfineco.2015.06.003.10.1016/j.jfineco.2015.06.003
  15. 15. European Central Bank (2006). Fiscal Policies and Financial Markets. Monthly Bulletin, February 2006.
  16. 16. European Central Bank (2012). Monetary and Fiscal Policy Interactions in a Monetary Union. Monthly Bulletin, July 2012.
  17. 17. European Central Bank. (2004). The Euro Bond Market Study. Frankfurt am Main: ECB.
  18. 18. European Central Bank. (2007). The Euro Bonds and Derivatives Markets. Frankfurt am Main: ECB.
  19. 19. European Central Bank. (2010). Financial Stability Review, December 2010. Frankfurt am Main: ECB.
  20. 20. European Central Bank. (2011). Financial Stability Review, December 2011. Frankfurt am Main: ECB.
  21. 21. European Central Bank. (2013). Financial Integration in Europe. Frankfurt am Main: ECB.
  22. 22. Fawley, B. & Neely, C. (2013). Four Stories of Quantitative Easing. Federal Reserve Bank of St. Louis Review, 1(95), 51-88.10.20955/r.95.51-88
  23. 23. Fitch. (2012, August 24). Sovereign Rating History. Retrieved from: https://www.fitchratings.com/web.../ratings/sovereign_ratings_history.xls
  24. 24. Gonzáles-Páramo, J.-M. (2011, October 21). The ECB’s monetary policy during the crisis. Closing speech at the Tenth Economic Policy Conference, Malaga. Retrieved from: https://www.ecb.europa.eu/press/key/date/2011/html/sp111021_1.en.html
  25. 25. Goodfriend, M. (2007). How the World Achieved Consensus on Monetary Policy. Journal of Economic Perspectives, 4(21), 47-68.10.1257/jep.21.4.47
  26. 26. Krishnamurthy, A. & Vissing-Jorgensen, A. (2011). The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy. Brookings Papers on Economic Activity, 2(43). 215–265.10.1353/eca.2011.0019
  27. 27. Krishnamurthy, A., Nagel, S. & Vissing-Jirgensen A. (2014, August 14). ECB Policies involving Government Bond Purchases: Impact and Channels. Retrieved from: http://eml.berkeley.edu//~webfac/gourinchas/ECBPolicies.pdf
  28. 28. Lukić, V. (2012). “Monetarna politika u kriznim vremenima: Ključni izazovi i (ne)jedinstven odgovor na njih’’, In Zbornik radova sa naučne konferencije “Privreda Srbije u drugom talasu krize: Izgledi za 2012.”, Naučno društvo ekonomista i Ekonomski fakultet u Beogradu, 255-276, Beograd: EKOF.
  29. 29. Moody’s. (2010). Sovereign Default and Recovery Rates, 1983-2010. New York: Moody’s.
  30. 30. Pagano, M. & Thadden, E.-L. (2008). “The European Bond Markets under EMU”, In Handbook of European Financial Markets and Institutions, ed. Xavier Freixas, Philipp Hartmann and Colin Mayer, 488-518. Oxford: Oxford University Press.
  31. 31. Santillan, J., Bayle, M. & Thygesen, C. (2000). The Impact of the Euro on Money and Bond Markets. European Central Bank, Occasional Paper Series No.1.10.2139/ssrn.748964
  32. 32. Trebesch, C. & Zettelmeyer, J. (2014). ECB Interventions in Distressed Sovereign Debt Markets: The Case of Greek Bonds, Center for Economic Studies & Ifo Institute, Working Paper No. 4731.
Language: English
Page range: 71 - 97
Published on: Jan 26, 2016
Published by: Central Bank of Montenegro
In partnership with: Paradigm Publishing Services
Publication frequency: 3 issues per year

© 2016 Velimir Lukić, published by Central Bank of Montenegro
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.