Central Bank Operations in Government Securities During the Pandemic

William Allen

No 14, National Institute of Economic and Social Research (NIESR) Policy Papers from National Institute of Economic and Social Research

Abstract: With economic activity severely disrupted by the coronavirus crisis, many governments have been supporting peoples' incomes and keeping businesses alive by means of income support programmes financed by borrowing. This paper describes how the borrowing is being done in the United States and the United Kingdom, and how central banks are in practice managing not just short-term interest rates but also yields on government bonds.

Keywords: Central bank operations; government bonds (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2020-04
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Citations: View citations in EconPapers (1)

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