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A quantitative easing experiment
Penalver, Adrian; Hanaki, Nobuyuki; Akiyama, Eizo; … - 2020
) operation. In our experiment, the bonds are perfect substitutes for cash and have a constant fundamental value which is not …
Persistent link: https://www.econbiz.de/10012253900
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Fundamental disagreement about monetary policy and the term structure of interest rates
Cao, Shuo; Crump, Richard K.; Eusepi, Stefano; Mönch, … - 2021 - Revised August 2021
Using a unique data set of individual professional forecasts, we document disagreement about the future path of monetary policy, particularly at longer horizons. The stark differences in short rate forecasts imply strong disagreement about the risk-return trade-off of longer-term bonds....
Persistent link: https://www.econbiz.de/10012249767
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Monetary policy under behavioral expectations : theory and experiment
Hommes, Cars H.; Massaro, Domenico; Weber, Matthias - 2015
predictions with a learning to forecast experiment. The experimental results support the behavioral model and the claim that …
Persistent link: https://www.econbiz.de/10011298879
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The Informational Content of Prices When Policy Makers React to Financial Markets
Siemroth, Christoph - 2018
When can policy makers use policy-relevant information from financial market prices and how does policy affect price informativeness? I analyze a novel setting with noise where a policy maker tries to infer information about a state variable from prices to improve policy decisions, and policy in...
Persistent link: https://www.econbiz.de/10012937900
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The Federal Reserve and the bull markets : from Benjamin Strong to Alan Greenspan
Spencer, Roger W.; Huston, John H. - 2006
Persistent link: https://www.econbiz.de/10003321134
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Financial intermediaries and speculation in the foreign exchange market : the role of monetary policy in Iran's economy
Sadeghi, Abdorasoul; Marzban, Hussein; Samadi, Ali Hussein - In: Journal of economic structures : JES; the official … 11 (2022), pp. 1-26
developing economy, like Iran, through the channel of the relationship between bank deposits, stock market, and speculation in … low banks deposits regimes. Both FIs have negatively impacted speculation in the FEM in high and low exchange rates … very high inflation regimes. In comparison, the impact of speculation in the FEM has been negative on investment and …
Persistent link: https://www.econbiz.de/10013459442
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The impact of monetary policy on stock market bubbles and trading behavior : evidence from the lab
Fischbacher, Urs; Hens, Thorsten; Zeisberger, Stefan - In: Journal of economic dynamics & control 37 (2013) 10, pp. 2104-2122
Persistent link: https://www.econbiz.de/10010196916
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A Quantitative Easing Experiment
Penalver, Adrian - 2017
bonds, participants in the experiment believed that bond prices would exceed this value when they knew that a central bank …
Persistent link: https://www.econbiz.de/10012941893
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A Quantitative Easing Experiment
Penalver, Adrian - 2020
) operation. In our experiment, the bonds are perfect substitutes for cash and have a constant fundamental value which is not …
Persistent link: https://www.econbiz.de/10012826427
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An Experimental Analysis of the Effect of Quantitative Easing
Penalver, Adrian - 2018
In this paper we report the results of a repeated experiment in which a central bank buys bonds for cash in a … quantitative easing (QE) operation in an otherwise standard asset market setting. The experiment is designed so that bonds have a …
Persistent link: https://www.econbiz.de/10012916990