Glick, Reuven; Leduc, Sylvain - In: Journal of International Money and Finance 31 (2012) 8, pp. 2078-2101
We present evidence on the effects of large-scale asset purchases by the Federal Reserve and the Bank of England since 2008. We show that announcements about these purchases led to lower long-term interest rates and depreciations of the U.S. dollar and the British pound on announcement days,...