PSPP’s effects became significant after expansion – Irish paper
Paper examines responses of Ireland-domiciled investment funds
The European Central Bank’s (ECB) public sector asset purchase programme (PSPP) only had significant effects after its size was greatly increased in March 2016, a research paper published by the Central Bank of Ireland finds.
In The Portfolio Rebalancing Effects of the ECB’s Asset Purchase Programme, Giovanna Bua and Peter Dunne examine how Ireland-domiciled investment firms rebalanced their portfolios in response to the PSPP. The authors use dynamic panel methods to examine how a “large sample
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