Term premia

Publication date: 20 Mar 2018 | Publication type: NIESR Discussion Paper | Theme: Macroeconomics | Authors: Moessner, R | JEL classification: E58, G15 | NIESR discussion paper number: 489
We study the effects of the announcements of ECB asset purchases and of financial stability measures in the euro area in the wake of the global financial crisis and the euro area sovereign debt crisis on ten-year government bond term premia in eleven euro area countries. We find that the term...
Publication date: 18 Dec 2017 | Publication type: NIESR Discussion Paper | Theme: Macroeconomics | Authors: Turner, P | JEL classification: E43, E52, E58, F41, G28 | NIESR discussion paper number: 484
Recent history suggests that raising interest rates higher than warranted by macroeconomic prospects would not be the right policy for financial stability. The significant tightening of monetary policies in the advanced economies from mid-2004 to mid-2006 failed to stop increased risk-taking in the...