Unconventional Monetary Policy and the Great Recession: Estimating the Macroeconomic Effects of a Spread Compression at the Zero Lower Bound
By Christiane Baumeister, Luca Benati. 2012
371 citations recorded by the source corpus.
Subfields: Economics and Econometrics, Finance
View Paper: https://www.semanticscholar.org/paper/60bd4813e674aadfc33e286142ace38a01d26731
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
- Jiří Slačálek
- Angeliki Theophilopoulou
- Haroon Mumtaz
- M. Lenza
- Tomasz Wieladek
- Martin Weale
- Pablo Burriel
- J. M. Olea
In Finance
- Haroon Mumtaz
- Angeliki Theophilopoulou
- Pablo Burriel
- J. M. Olea
- Martin Weale
- M. Lenza
- Jiří Slačálek
- A. Galesi
Citations in the corpus
- Delta-method inference for a class of set-identified SVARs (2018, background): “Baumeister and Benati (2013) study an analogous ‘spread’ monetary shock that leaves the short-term nominal rate unchanged, but affects the spread between the ten-year Treasury-bond yield and the policy rate.”
- Uncovering the heterogeneous effects of ECB unconventional monetary policies across euro area countries (2016, methodology): “Specifically, we follow Baumeister and Benati (2013) and implement this additional restriction by setting to zero all the coefficients in the structural VAR’s interest rate rule.”
- The Impact of Monetary Policy on Inequality in the UK. An Empirical Analysis (2017, methodology): “(2) Inflation based on the Consumer Price Index (CPI).”
- How Does Monetary Policy Affect Income and Wealth Inequality? Evidence from Quantitative Easing in the Euro Area (2018, methodology): “…reduction of aggregate unemployment, a proportionally larger number of individuals in the lower 21 In our previous draft, http://slacalek.com/research/lsMPinequality/lsMPinequality_2019.pdf , we identify the QE shock by means of sign restrictions, similarly to Baumeister and Benati (2013).”
- What are the Macroeconomic Effects of Asset Purchases (2016, background): “This was originally suggested by Eggertson and Woodford (2003) and Bernanke et al. (2004).”