Arbeitspapier

The effectiveness of non-standard monetary policy measures: evidence from survey data

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 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 one year after the announcement of accommodative policies.

ISBN
978-92-899-2199-2
Sprache
Englisch

Erschienen in
Series: ECB Working Paper ; No. 1951

Klassifikation
Wirtschaft
Central Banks and Their Policies
Studies of Particular Policy Episodes
Thema
forward guidance
large scale asset purchases
operation twist
quantitative easing
survey of professional forecasters
tapering

Ereignis
Geistige Schöpfung
(wer)
Altavilla, Carlo
Giannone, Domenico
Ereignis
Veröffentlichung
(wer)
European Central Bank (ECB)
(wo)
Frankfurt a. M.
(wann)
2016

DOI
doi:10.2866/805750
Handle
Letzte Aktualisierung
10.03.2025, 11:45 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.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Altavilla, Carlo
  • Giannone, Domenico
  • European Central Bank (ECB)

Entstanden

  • 2016

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