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

被引：28

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 50 条

[1] Non-standard monetary policy measures in non-normal times
Bartocci, Anna
Notarpietro, Alessandro
Pisani, Massimiliano
INTERNATIONAL FINANCE, 2023, 26 (01) : 19 - 35
[2] Non-standard monetary policy measures and bank systemic risk in the Eurozone
Vu, Anh Nguyet
Katsiampa, Paraskevi
REVIEW OF QUANTITATIVE FINANCE AND ACCOUNTING, 2024,
[3] Spillovers from the ECB's Non-standard Monetary Policy Measures on Southeastern Europe
Moder, Isabella
INTERNATIONAL JOURNAL OF CENTRAL BANKING, 2019, 15 (04): : 127 - 163
[4] Non-standard monetary policy, asset prices and macroprudential policy in a monetary union
Burlon, L.
Gerali, A.
Notarpietro, A.
Pisani, M.
JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2018, 88 : 25 - 53
[5] The ECB's non-standard monetary policy measures: the role of institutional factors and financial structure
Cour-Thimann, Philippine
Winkler, Bernhard
OXFORD REVIEW OF ECONOMIC POLICY, 2012, 28 (04) : 765 - 803
[6] The effectiveness of exchange-rate-based monetary policy: evidence from survey data
Bianchi, Paolo
Deschamps, Bruno
APPLIED ECONOMICS LETTERS, 2018, 25 (18) : 1261 - 1265
[7] Non-standard monetary policy and ECB communication: Confusion or predictability?
Comeres, Quentin Bro de
Oros, Cornel
Pourroy, Marc
Raguideau-Hannotin, Leonore
Vaubourg, Anne-Gael
JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2025, 151
[8] Macroeconomic Effects of Non-Standard Monetary Policy Measures in the Euro Area: The Role of Corporate Bond Purchases
Bartocci, A.
Notarpietro, A.
Pisani, M.
Burlon, L.
MANCHESTER SCHOOL, 2021, 89 : 97 - 130
[9] Liquidity provision as a monetary policy tool: The ECB's non-standard measures after the financial crisis
Quint, Dominic
Tristani, Oreste
JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2018, 80 : 15 - 34
[10] Macroeconomic effectiveness of non-standard monetary policy and early exit. A model-based evaluation
Burlon, Lorenzo
Gerali, Andrea
Notarpietro, Alessandro
Pisani, Massimiliano
INTERNATIONAL FINANCE, 2017, 20 (02) : 155 - 173

← 1 2 3 4 5 →