D'Amico, Stefania; English, William; López-Salido, David; … - Federal Reserve Board (Board of Governors of the … - 2012
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 might matter for longer-term...