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Unconventional monetary policy: lessons from the past three years
TLDR
The Swiss National Bank Research Conference, Zurich, Switzerland, September 23, 2011 as mentioned in this paper, presented a paper on the Swiss Nationalbank Research Conference 2011, presented by Bernhard et al.Abstract:
Presentation to the Swiss National Bank Research Conference, Zurich, Switzerland, September 23, 2011read more
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The Financial Cycle and Macroeconomics: What Have We Learnt?
TL;DR: The authors highlighted the stylised empirical features of the financial cycle, conjectures as to what it may take to model it satisfactorily, and considered its policy implications in the discussion of policy.
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The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound: A Cross-Country Analysis
TL;DR: The authors assesses the macroeconomic effects of unconventional monetary policies by estimating a panel VAR with monthly data from eight advanced economies over a sample spanning the period since the onset of the global finanancial crisis.
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The financial cycle and macroeconomics: What have we learnt?
TL;DR: The authors highlights the stylised empirical features of the financial cycle, conjectures as to what it may take to model it satisfactorily, and considers its policy implications, and pays special attention to the bust phase.
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The effectiveness of unconventional monetary policy at the zero lower bound : a cross-country analysis
TL;DR: The authors assesses the macroeconomic effects of unconventional monetary policies by estimating a panel vector autoregression (VAR) with monthly data from eight advanced economies over a sample spanning the period since the onset of the global financial crisis.
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QE 1 vs. 2 vs. 3. . . : A Framework for Analyzing Large-Scale Asset Purchases as a Monetary Policy Tool
Mark Gertler,Peter Karadi +1 more
TL;DR: In this paper, the authors introduce large-scale asset purchases (LSAPs) as a monetary policy tool within a macroeconomic model, allowing for purchases of both long-term government bonds and securities with some private risks.
References
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The Zero Bound on Interest Rates and Optimal Monetary Policy
TL;DR: The question of the proper conduct of monetary policy in the presence of a lower bound of zero for overnight nominal interest rates has recently become a topic of lively interest as mentioned in this paper, and the question of how policy should be conducted when the zero bound is reached or when the possibility of reaching it can no longer be ignored.
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Do Actions Speak Louder Than Words? The Response of Asset Prices to Monetary Policy Actions and Statements
TL;DR: In this paper, the authors investigate the effects of U.S. monetary policy on asset prices using a high-frequency event-study analysis and find that two factors are required: a current federal funds rate target and a future path of policy.
Journal ArticleDOI
The Aggregate Demand for Treasury Debt
TL;DR: This paper showed that changes in Treasury supply have large effects on a variety of yield spreads and showed that Treasury yields are reduced by 73 basis points, on average, from 1926 to 2008.
Book
The Financial Market Effects of the Federal Reserve's Large-Scale Asset Purchases
TL;DR: In order to further ease the stance of monetary policy as the economic outlook deteriorated, the Federal Reserve purchased substan tial quantities of assets with medium and long maturities as discussed by the authors.
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Do actions speak louder than words? the response of asset prices to monetary policy actions and statements
TL;DR: In this paper, the authors investigate the effects of U.S. monetary policy on asset prices using a high-frequency event-study analysis and find that two factors are required: a current federal funds rate target and a future path of policy.
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