
International Capital Flows at the Security Level - Evidence from the ECB's Asset Purchase Programme »
Journal Issue
Volume/Issue: 2020/46
Series: IMF Working Papers
Author(s): Katharina Bergant , Michael Fidora , and Martin Schmitz
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 28 February 2020
DOI: http://dx.doi.org/10.5089/9781513529233.001
ISBN: 9781513529233
Keywords: Financial and Monetary Sector, Financial crises, Debt securities, Mutual funds, Economic policy, International investment patterns, capital flows, sovereign debt, investor heterogeneity, quantitative easing
We analyse euro area investors' portfolio rebalancing during the ECB's Asset Purchase Programme at the security level. Our empirical analysis shows that euro area investors (in particular investment funds and house...