The effectiveness of non-standard monetary policy measures: evidence from survey data

Carlo Altavilla and Domenico Giannone

No 1406, Working Papers CASMEF from Dipartimento di Economia e Finanza, LUISS Guido Carli

Abstract: We assess the perception of professional forecasters regarding the effectiveness of unconventional monetary policy measures undertaken by the U.S. Federal Reserve after the collapse of Lehman Brothers. Using individual survey data, we analyse the changes in forecasting of bond yields around the announcement and implementation dates of non-standard monetary policies. The results indicate that bond yields are expected to drop significantly for at least one year after the announcement and the implementation of accommodative policies.

Keywords: Survey of Professional Forecasters; Large Scale Asset Purchases; Quantitative Easing; Operation Twist; Forward Guidance; Tapering. (search for similar items in EconPapers)
JEL-codes: E58 E65 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-for, nep-mac and nep-mon
References: Add references at CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
http://static.luiss.it/RePEc/pdf/casmef/1406.pdf (application/pdf)

Related works:
Journal Article: The Effectiveness of Non‐Standard Monetary Policy Measures: Evidence from Survey Data (2017)
Working Paper: The effectiveness of non-standard monetary policy measures: evidence from survey data (2016)
Working Paper: The effectiveness of nonstandard monetary policy measures: evidence from survey data (2015)
Working Paper: The Effectiveness of Non-Standard Monetary Policy Measures: Evidence from Survey Data (2014)
Working Paper: The Effectiveness of Non-Standard Monetary Policy Measures: Evidence from Survey Data (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:lui:casmef:1406

Access Statistics for this paper

More papers in Working Papers CASMEF from Dipartimento di Economia e Finanza, LUISS Guido Carli Contact information at EDIRC.
Bibliographic data for series maintained by Pierluigi Murro ().