Impact of EU governance reforms and ECB policy reactions on European government bond markets

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dc.contributor.authorErsoy, İmre
dc.contributor.authorDoğan, Fadime İrem
dc.date.accessioned2021-05-15T12:50:16Z
dc.date.available2021-05-15T12:50:16Z
dc.date.issued2016
dc.departmentİşletme Fakültesi, Uluslararası Ticaret Bölümüen_US
dc.description.abstractThis study aims to search for the impact of EU governance reforms and ECB policy reactions on European government bond markets. To analyze the short-run and long run effects of these reforms and policy reactions, dynamic and static panel data analysis are carried respectively both for PIIGS and 12 euro-zone countries for the period of 2007-2014. The main finding of the empirical study is that monetary policy reactions such as LTRO2 and OMT show immediate negative effects on the government bond yields in the dynamic models both in PIIGS and 12-panel cross-sections. Another finding of the study is that two-pack and the Banking Union had a negative impact on government bond interest rates in the static models both for PIIGS and 12 panel cross-sections. Besides, the analysis shows that the coefficients of the statistically significant variables of PIIGS are much higher than the 12-panel cross-sections’ coefficients, which shows how much the crisis affected the PIIGS countries. © International Economic Society.en_US
dc.identifier.endpage130en_US
dc.identifier.issn1307-1637
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-85012096070
dc.identifier.scopusqualityN/A
dc.identifier.startpage116en_US
dc.identifier.urihttps://hdl.handle.net/20.500.12939/1214
dc.identifier.volume10en_US
dc.indekslendigikaynakScopus
dc.institutionauthorDoğan, Fadime İrem
dc.language.isoen
dc.publisherInternational Economic Societyen_US
dc.relation.ispartofInternational Journal of Economic Perspectives
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectDynamic Panel Analysisen_US
dc.subjectECB Policy Measuresen_US
dc.subjectEconomic Governance Reformsen_US
dc.subjectGovernment Bond Yieldsen_US
dc.subjectStatic Panelen_US
dc.titleImpact of EU governance reforms and ECB policy reactions on European government bond markets
dc.typeArticle

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