In this paper we provide empirical measures of central bank credibility and augment these with historical narratives …

This paper examines the historical evolution of central bank credibility using both historical narrative and empirics … financial stability relying on macro prudential regulation may pose significant challenges for central bank credibility …

up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and …

From January 2011 through March 2018, the Bank of Japan purchased equity index ETFs worth about 3.5% of GDP …. Identification of the effect of central bank ETF purchases on stock valuations and corporate responses is via differently … corporate governance do increase capital investment. These findings suggest central bank equity purchases are a problematic tool …

This paper reviews the rationale for quantitative easing when central bank policy rates reach near zero levels in light … of recent announcements regarding direct asset purchases by the Bank of England, the Bank of Japan, the U.S. Federal … Reserve and the European Central Bank. Empirical evidence from the previous period of quantitative easing in Japan between …

via contractions in credit and disruption in financial markets. Managing the size and composition of the central bank …

partially active and asymmetric between countries. Empirically, we find the US, Euro area, and UK have implemented a …

Using new data on security-level portfolio holdings by investor type and across countries in the euro area, we study … portfolio rebalancing during the European Central Bank's (ECB) purchase programme that started in March 2015. To quantify …% of ECB purchases are sold by non-euro area investors, and we do not find evidence that risks get concentrated in certain …