Li, Xue; Chen, Xiaohong; Wohlfarth, Paul; Wan, Yuhui - 2023
We investigate the effectiveness of yield curve control (YCC) vis-à-vis other unconventional monetary policies (UMP) in a panel difference-in-differences framework of 26 economies that employed UMP between 1995 and mid-2021 for countries that made YCC related announcements. Shadow rates are...