Bank of Finland paper assesses impact of eurozone crisis response

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A discussion paper, published by the Bank of Finland on June 15, studies the impact of various steps taken in response to the eurozone crisis on sovereign bond yields in a sample of countries in the region.

Authors Juha Kilponen, Helinä Laakkonen and Jouko Vilmunen use data from January 2007 to March 2012 to study the effect of the European Financial Stability Facility (EFSF), the European Stability Mechanism (ESM), and the ECB's covered bond purchase programme and securities market programme

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