Emmerling, Thomas; Jarrow, Robert; Yildirim, Yildiray - In: Studies in Economics and Finance 35 (2018) 1, pp. 2-24
Purpose: Whereas much of previous literature focuses upon the impact on yields from the Federal Reserve’s large-scale asset purchases (LSAPs), the purpose of this paper is to study the changes to expected returns. Design/methodology/approach: This empirical investigation offers support for...