TY - DATA T1 - country-specific-euro-area-government-bond-ytandard-monetary-policy-program-announcements AU - Fendel, Ralf AU - Neugebauer, Frederik DO - doi:10.15456/ger.2019312.174701 AB - This paper employs event study methods to evaluate the effects of ECB's non-standard monetary policy program announcements on 10-year government bond yields of 11 euro area member states. Measurable effects of announcements arise with a one-day delay meaning that government bond markets take some time to react to ECB announcements. The country-specific extent of yield reduction seems inversely related to the solvency rating of the corresponding countries. The spread between core and periphery countries reduces because of a stronger decrease in the latter. This result is confirmed by letting the announcement variable interact with the current spread level. KW - E44 KW - E52 KW - E58 KW - G14 ET - 1 PY - 2019 PB - ZBW - Leibniz Informationszentrum Wirtschaft UR - https://journaldata.zbw.eu/dataset/country-specific-euro-area-government-bond-ytandard-monetary-policy-program-announcements ER -