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Van Der Heijden, M., Beetsma, R. and Romp, W. (2018). “Whatever it takes” and the role of Eurozone news Applied Economics Letters, 25(16):1166--1169.

  • Affiliated authors
    Roel Beetsma, Ward Romp
  • Publication year
    2018
  • Journal
    Applied Economics Letters
View publication

This letter shows that the {\textquoteleft}Whatever it takes{\textquoteright} speech by ECB President Draghi on 26 July 2012 and the ensuing installation of the Outright Monetary Transactions{\textquoteright} framework are associated with a reduction in the domestic and cross-border effect of Eurozone news on absolute yield changes in Eurozone sovereign debt. These results are consistent with the popular view that these actions helped to avoid a collapse of the Eurozone.