Arbeitspapier
Estimating Fed's unconventional policy shocks
Fed's monetary policy announcements convey a mix of news about different kinds of conventional and unconventional policies and about the economy. Financial market responses to these announcements are very leptokurtic: often tiny, but sometimes large. I estimate the underlying structural shocks exploiting this feature of the data. I find standard monetary policy, Odyssean forward guidance, large scale asset purchases and Delphic forward guidance, and estimate their effects.
- ISBN
-
978-92-899-4808-1
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 2585
- Klassifikation
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
Financial Markets and the Macroeconomy
- Thema
-
High-frequency identification
Non-Gaussianity
Excess kurtosis
Forward guidance
Asset purchases
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Jarociński, Marek
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2021
- DOI
-
doi:10.2866/479203
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Jarociński, Marek
- European Central Bank (ECB)
Entstanden
- 2021
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