The ins and outs of LSAPs

By Arvind Krishnamurthy, Annette Vissing-Jorgensen. 2013

130 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/5946b82ef843fd06221924f83ce0f4b485e13dd0

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Citations in the corpus

A Tale of Two Decades: The Ecb's Monetary Policy at 20 (2019, methodology): “Following the seminal contributions of Kydland and Prescott (1977) and Barro and Gordon (1983), which formalised this logic, the “inflation bias” was the subject of a vast literature that flourished in the 1980s and 1990s and added precision to the analytic argument for central bank independence.”
Monetary stimulus and bank lending (2020, background): “1 See, for example, Morais et al. (2019) , who use the amounts of assets purchased to measure the effects of QE.”
Uncovering the heterogeneous effects of ECB unconventional monetary policies across euro area countries (2016, background): “For instance, Lenza et al. (2010) have shown that measures undertaken by the ECB in the aftermath of the crisis had sizeable effect in compressing spreads on loans and interest rates.”
Shock Restricted Structural Vector-Autoregressions (2017, unknown): “…other than short-term Treasury rates serve as additional policy indicators that capture distinct channels of monetary policy transmission (e.g., Gagnon, Raskin, Remache and Sack (2011), Krishnamurthy and Vissing-Jorgensen (2011), Krishnamurthy and Vissing-Jorgensen (2013), Swanson (2017)).”
How Quantitative Easing Works: Evidence on the Refinancing Channel (2016, unknown): “For example, Maddaloni and Peydró (2011) find that low short-term interest rates for an extended period eventually soften lending standards for household and corporate loans.12 Chakraborty, Goldstein, and MacKinlay (2017) and Rodnyansky and Darmouni (2017) look explicitly at the effect of QE on bank”
A capital structure channel of monetary policy (2018, unknown): “Our results are also consistent with Krishnamurthy and Vissing-Jorgensen (2013), who show that U.S. Federal Reserve purchases of Treasuries significantly raised Treasury prices but had limited spillover effects to private sector bond yields.”
Measuring the effects of federal reserve forward guidance and asset purchases on financial markets (2020, unknown): “The estimated effect of the federal funds rate on stocks is very similar to the estimates in Bernanke and Kuttner (2005) and GSS (2005a) , and the estimated effect of forward guidance on stocks is very similar to GSS (2005a) and D’Amico and Farka (2011) , again corroborating the identifying assumpti”