It has been suggested that the European Central Bank significantly increase its purchases of government debt securities in an effort to help resolve the ongoing sovereign debt crisis. But there are numerous reasons why it would be inappropriate for the ECB to conduct such large-scale government...

While the current literature and the discussion among policymakers consists of a pessimistic view of growth in output and employment coupled with the fear of deflation, inflation has not been mentioned as a concern for quite some time. Although inflation does not appear to pose an immediate...

We find that the deal structure decision to engage in a foreign asset purchase instead of acquiring a foreign target's equity is more likely when bidders are smaller, the bidder's proportion of foreign sales-to-total sales is higher and the target is in an unrelated industry. In addition,...

We provide empirical estimates of the effect of large-scale asset purchase (LSAP)-style operations on longer-term U.S. Treasury yields within a framework that nests the alternative theoretical perspectives on LSAPs. As the principal channels through which LSAPs migh tmatter for longer-term...