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- ECB Working Paper Series No 2139 / April 2018 Acknowledgements The authors would like to thank Stephan Fahr for all his help on the project. Thanks also to Dominic Quint, Paul Levine, Cristiano Cantore and Raf Wouters for helpful suggestions. Jonathan gratefully acknowledges the financial support from the Economic and Social Research Council [grant number ES/J500148/1]. The views expressed herein are those of the author and do not necessarily reflect those of the Eurosystem. No responsibility for them should be attributed to the Bank of Canada.
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- Tobias Sebastian Blattner (corresponding author) European Central Bank, Frankfurt am Main, Germany; email: tobias.blattner@ecb.europa.eu Jonathan M. Swarbrick Bank of Canada, Ottawa, Canada; email: jswarbrick@bankofcanada.ca European Central Bank, 2018 Postal address 60640 Frankfurt am Main, Germany Telephone +49 69 1344 0 Website www.ecb.europa.eu All rights reserved. Any reproduction, publication and reprint in the form of a different publication, whether printed or produced electronically, in whole or in part, is permitted only with the explicit written authorisation of the ECB or the authors. This paper can be downloaded without charge from www.ecb.europa.eu, from the Social Science Research Network electronic library or from RePEc: Research Papers in Economics. Information on all of the papers published in the ECB Working Paper Series can be found on the ECB’s website.
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