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
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978-92-899-2199-2
- Sprache
-
Englisch
- Erschienen in
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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
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Veröffentlichung
- (wer)
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European Central Bank (ECB)
- (wo)
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Frankfurt a. M.
- (wann)
-
2016
- DOI
-
doi:10.2866/805750
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Altavilla, Carlo
- Giannone, Domenico
- European Central Bank (ECB)
Entstanden
- 2016