THE EFFECTIVENESS OF NON-STANDARD MONETARY POLICY MEASURES: EVIDENCE FROM SURVEY DATA

被引：30

作者：

Altavilla, Carlo ^{[1
]}

Giannone, Domenico ^{[2
,3
]}

机构：

[1] European Cent Bank, Frankfurt, Germany

[2] Fed Reserve Bank New York, 33 Liberty St, New York, NY 10045 USA

[3] CEPR, London, England

来源：

JOURNAL OF APPLIED ECONOMETRICS | 2017年 / 32卷 / 05期

关键词：

INTEREST-RATES; IDENTIFICATION;

D O I：

10.1002/jae.2559

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We assess professional forecasters' perceptions of the effects of the unconventional monetary policy measures announced by the US Federal Reserve after the collapse of Lehman Brothers. Using survey data, collected at the individual level, we analyze the change in the forecasts for Treasury and corporate bond yields around the announcement dates of the non-standard measures. We find that forecasters expected bond yields to drop significantly for at least 1 year after the announcement of accommodative policies. Copyright (C) 2016 John Wiley & Sons, Ltd.

引用

页码：952 / 964

页数：13

共 24 条

[1]

[Anonymous], [No title captured]

[2] LARGE BAYESIAN VECTOR AUTO REGRESSIONS [J].