Over the past two decades, high-frequency interest rate changes around the Federal
Reserve's Federal Open Market Committee (FOMC) announcements, or monetary policy …

This paper evaluates the literature on international unconventional monetary policies
(UMPs). Introducing market segmentation, limits-to-arbitrage, and time-consistent policy in …

To overcome the limits on traditional monetary policy imposed by the effective lower bound
on short-term interest rates, in recent years the Federal Reserve and other advanced …

В книге обсуждается произошедшая во многих секторах экономики трансформация
фирм в платформы—компании, предоставляющие оборудование и программное …

Using evidence from four major central banks, we decompose news conveyed by central-
bank communication into news about monetary policy (monetary news), as well as non …

The methods of Gürkaynak et al.(2005a) are extended to separately identify surprise
changes in the federal funds rate, forward guidance, and large-scale asset purchases …

This paper employs an approximation that makes a nonlinear term structure model
extremely tractable for analysis of an economy operating near the zero lower bound for …

Abstract In November 2008, the Federal Reserve faced a deteriorating economy and a
financial crisis. The federal funds rate had already been reduced to virtually zero. Thus, the …

We evaluate the effects on asset prices of the ECB asset purchase program (APP)
announced in January 2015 and assess its main transmission channels. We do so by first …

This article analyses the effects of the Federal Reserve's quantitative easing (QE) on global
portfolio flows, differentiating across recipient region of the flows, type of flow and QE …