Monetary policy at the zero bound

Daniel Thornton

Economic Synopses, 2011, No 7

Abstract: The average relationship between changes in the 10-year Treasury yield and changes in the funds rate over the 1987-2007 sample period is not indicative of the relationship between changes in the funds rate and changes in the 10-year Treasury yield that existed for more than a decade prior to the financial crisis.

Keywords: Interest rates; Monetary policy (search for similar items in EconPapers)
Date: 2011
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