In the article “The Bill, Please! Households’ Real Returns on Financial Assets Since the Introduction of the Euro” by Marc-Peter Radke and Manuel Rupprecht in Intereconomics, Vol. 54, No. 2, 2019, pp. 106-113, DOI: 10.1007/s10272-019-0803-6, an editing error occurred in the first paragraph. The correction appears here.
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After ten years of historically low interest rates and a massive expansion of the eurosystem’s balance sheet due to non-standard monetary policy measures, net asset purchases were discontinued in December 2018. Although policy rates were enunciated to remain at their present low levels through the summer of 2019, it was widely expected that they would rise immediately afterwards.