Sin abstract

This note argues that stock market intervention during severe liquidity crises should be as broadly accepted as interest rate manipulation, provided that it is conducted in an orderly and transparent fashion. The same applies to asset support more generally, including corporate bonds and...

In most instances, the dynamic response of monetary and other policies to shocks is infrequent and lumpy. The same holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and prices. We show that the standard practice of estimating...