Quantitative easing and unconventional monetary policy–an introduction
This article assesses the impact of Quantitative Easing and other unconventional monetary
policies followed by central banks in the wake of the financial crisis that began in 2007. We …
policies followed by central banks in the wake of the financial crisis that began in 2007. We …
Evaluating asset-market effects of unconventional monetary policy: a multi-country review
This paper examines the effects of unconventional monetary policy by the Federal Reserve,
Bank of England, European Central Bank and Bank of Japan on bond yields, stock prices …
Bank of England, European Central Bank and Bank of Japan on bond yields, stock prices …
The bank lending channel: lessons from the crisis
L Gambacorta, D Marques-Ibanez - Economic policy, 2011 - academic.oup.com
The 2007–2010 financial crisis highlighted the central role of financial intermediaries'
stability in buttressing a smooth transmission of credit to borrowers. While results from the …
stability in buttressing a smooth transmission of credit to borrowers. While results from the …
Uncovering the heterogeneous effects of ECB unconventional monetary policies across euro area countries
We assess the effects of recent ECB's unconventional monetary policy (UMP) measures by
estimating a global VAR that exploits panel variation amongst all euro area economies and …
estimating a global VAR that exploits panel variation amongst all euro area economies and …
Announcements of ECB unconventional programs: Implications for the sovereign spreads of stressed euro area countries
M Falagiarda, S Reitz - Journal of International Money and Finance, 2015 - Elsevier
This paper studies the effects of ECB communications about unconventional monetary
policy operations on the sovereign spreads of Greece, Ireland, Italy, Portugal, and Spain …
policy operations on the sovereign spreads of Greece, Ireland, Italy, Portugal, and Spain …
International spillovers of central bank balance sheet policies
Q Chen, AJ Filardo, D He, F Zhu - BIS paper, 2012 - papers.ssrn.com
We study the cross-border impact of quantitative easing (QE) in the major advanced
economies, especially on emerging market economies. We first examine the cross-border …
economies, especially on emerging market economies. We first examine the cross-border …
The ECB and the interbank market
We analyse the impact on the euro area economy of the ECB's non‐standard monetary
policy measures by studying the effect of the expansion of intermediation of interbank …
policy measures by studying the effect of the expansion of intermediation of interbank …
Evaluating asset-market effects of unconventional monetary policy: A cross-country comparison
This paper examines the effects of unconventional monetary policy by the Federal Reserve,
Bank of England, European Central Bank and Bank of Japan on bond yields, stock prices …
Bank of England, European Central Bank and Bank of Japan on bond yields, stock prices …
Unconventional monetary policy in theory and in practice
M Cecioni, G Ferrero, A Secchi - Innovative Federal Reserve …, 2019 - World Scientific
In this chapter, after discussing the theoretical underpinnings of unconventional monetary
policy measures, we review the existing empirical evidence on their effectiveness, focusing …
policy measures, we review the existing empirical evidence on their effectiveness, focusing …
Counterfactual analysis in macroeconometrics: An empirical investigation into the effects of quantitative easing
MH Pesaran, RP Smith - Research in Economics, 2016 - Elsevier
This paper develops tests of policy ineffectiveness when counterfactual outcomes, namely
the predicted values of the target variable in the absence of a policy change, are obtained …
the predicted values of the target variable in the absence of a policy change, are obtained …