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Taper Tantrums: Quantitative Easing, Its Aftermath, and Emerging Market Capital Flows
, 2020This paper examines the spillover effects of U.S. unconventional monetary policy (UMP) on emerging market capital flows and asset prices. Affine term structure model estimates show that U.S.
Anusha Chari, K. Stedman, C. Lundblad
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2020
Before the Great Financial Crisis of 2008-09, significant reductions in official interest rates typically proved sufficient to generate sustainable economic recoveries from downturns. However, with economies and financial markets in freefall during the crisis despite a cut in interest rates to effectively zero, policymakers in some advanced economies ...
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Before the Great Financial Crisis of 2008-09, significant reductions in official interest rates typically proved sufficient to generate sustainable economic recoveries from downturns. However, with economies and financial markets in freefall during the crisis despite a cut in interest rates to effectively zero, policymakers in some advanced economies ...
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West European Politics, 2020
Central banks have been important yet underexplored actors in the fight against the Great Recession. In addition to ultra-low interest rates, they adopted large-scale bond-buying programmes known as quantitative easing (QE).
Alexander Reisenbichler
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Central banks have been important yet underexplored actors in the fight against the Great Recession. In addition to ultra-low interest rates, they adopted large-scale bond-buying programmes known as quantitative easing (QE).
Alexander Reisenbichler
semanticscholar +1 more source
Quantitative Easing vs Credit Easing
2010On 18 March 2009 the Federal Reserve (Fed), the central bank of the United States, announced that it would pump an additional 1.15 trillion dollars into the financial markets. The Fed announced that “in the light of increasing economic slack, the Committee1 expects that inflation will remain subdued and sees some risk that inflation could persist for a
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SSRN Electronic Journal, 2017
I study optimal monetary policy in a simple New Keynesian model with portfolio adjustment costs. Purchases of long-term debt by the central bank (quantitative easing; ‘QE’) alter the average portfolio return and hence influence aggregate demand and inflation.
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I study optimal monetary policy in a simple New Keynesian model with portfolio adjustment costs. Purchases of long-term debt by the central bank (quantitative easing; ‘QE’) alter the average portfolio return and hence influence aggregate demand and inflation.
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Effectiveness and addictiveness of quantitative easing
Journal of Monetary Economics, 2020This paper analyzes optimal asset-purchase policies in a macroeconomic model with banks, which face occasionally-binding balance-sheet constraints.
P. Karadi, Anton A. Nakov
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Understanding Quantitative Easing
SSRN Electronic Journal, 2014Many misunderstandings are still circulating about the actual operational aspects and impacts of Quantitative Easing, also known as Permanent Open Market Operations or Large Scale Asset Purchases. This brief primer will provide a series of basic understandings that give the reader better insights as to the actual impacts of the program and how it works
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World Economics Journal, 2009
Central banks around the world have moved to cut interest rates to record lows, with many in advanced economies going further and embracing full quantitative easing – creating new money to inject into the economy. This paper examines why quantitative easing has been necessary, and whether it is likely to result in higher demand or instead show up in ...
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Central banks around the world have moved to cut interest rates to record lows, with many in advanced economies going further and embracing full quantitative easing – creating new money to inject into the economy. This paper examines why quantitative easing has been necessary, and whether it is likely to result in higher demand or instead show up in ...
openaire +1 more source
Quantitative Easing and Equity Prices: Evidence from the ETF Program of the Bank of Japan
Review of Asset Pricing Studies, 2019Since the introduction of its quantitative and qualitative easing program in 2013, the Bank of Japan has been increasing its holdings of Japanese equity through large-scale purchases of index-linked ETFs, to lower risk premiums.
A. Barbon, Virginia Gianinazzi
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