Research shows short sellers are informed market participants, and stocks with the highest lending fees for short sellers still earn abnormally low returns.
The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
Remarks by Luis de Guindos, Vice-President of the ECB at the virtual ceremony awarding the 2020 Germán Bernácer Prize to Ralph Koijen Frankfurt am Main, 22.