The Efficacy of Large-Scale Asset Purchases at the Zero Lower Bound

By Tae-Yong Doh. 2010

116 citations recorded by the source corpus.

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Citations in the corpus

The large scale asset purchases had large international effects (2010, unknown): “13 Doh (2010) describes the evidence on the effect of supply shifts in several contexts. control the month-to-month real return on a short-term asset held for liquidity (bank reserves), then one can solve for the excess returns over the liquidity asset that make the investor willing to hold the…”
The Effectiveness of Alternative Monetary Policy Tools in a Zero Lower Bound Environment (2011, methodology): “Our empirical analysis follows Doh (2010) and Greenwood and Vayanos (2010) in using the Vayanos and Vila (2009) framework to try to quantify the ability of nonstandard openmarket operations to change the yields on assets of different maturities.”
A Tale of Two Decades: The Ecb's Monetary Policy at 20 (2019, methodology): “210 For a complete exposition of the three SAPI criteria, see Praet (2018a) and Draghi (2018b). Note the difference between the SAPI-based conditionality for ending the APP and the formulation used by the FOMC in December 2012 to spell out the conditions that would lead to LSAP termination.”
Financial Crisis, US Unconventional Monetary Policy and International Spillovers (2015, unknown): “Among others, D’Amico and King (2010), Doh (2010), Gagnon, Raskin, Remache and Sack (2010, 2011), Joyce, Lasaosa, Stevens and Tong (2011), Krishnamurthy and Vissing-Jorgensen (2011) and Meaning and Zhu (2011, 2012) provide estimates for the Federal Reserve’s and the Bank of England’s large-scale…”
QE 1 vs. 2 vs. 3. . . : A Framework for Analyzing Large-Scale Asset Purchases as a Monetary Policy Tool (2013, background): “As equations (12) and (13) suggest, if private intermediation is balance sheet constrained, excess returns on assets arise.”
The Financial Market Impact of UK Quantitative Easing (2012, background): “Important empirical contributions include Doh (2010), D’Amico and King (2010), Gagnon et al. (2010), Hamilton andWu (2010), Neely (2010), Hancock and Passmore (2011), Krishnamurthy and Vissing-Jorgenson (2011) and Wright (2011).”
Macroeconomics and the Term Structure (2012, background): “Doh (2010) notes however that a good bit of the rebound in yields occurred right around macroeconomic news announcements, tending to support the latter interpretation. recent days: January 1, 2008, two dates during the depths of the recent nancial crisis, and the last day in 2009.”
Real Effects of Quantitative Easing at the Zero-Lower Bound: Structural VAR-Based Evidence from Japan (2011, background): “Theoretical studies such as, for instance, Doh (2010), refer to imperfect substitutability between assets and explain the expansionary effect of such a policy decision by arguing that the purchase of longterm bonds by the central bank will naturally lower long-term bond yields. This lower yield on g”
On the International Spillovers of US Quantitative Easing (2018, unknown): “A number of studies have indeed referred to the hypothesis that Habitat theories hold (see Gagnon et al. 2011, D’Amico and King 2011, and Doh 2010).”
Have We Underestimated the Likelihood and Severity of Zero Lower Bound Events (2011, background): “…recent studies have attempted to estimate the quantitative effect of large-scale asset purchases by the Federal Reserve on U.S. long-term interest rates, including Gagnon et al. (2010), D’Amico and King (2010), Doh (2010), Hamilton and Wu (2011), and Krishnamurthy and Vissing-Jorgensen (2011).”
Impact of the Asset Purchase Programme on euro area government bond yields using market news (2020, unknown): “Studies focusing on the US government bond yields are Doh (2010), Gagnon et al. (2011), Krishnamurthy and VissingJorgenson (2011), Meaning and Zhu (2011), D’Amico et al. (2012), D’Amico and King (2013) and Li and Wei (2013).”
Assessing the Economy-Wide Effects of Quantitative Easing (2012, unknown): “4 Other supportive evidence on the effects of the Fed’s LSAPs programme is provided by Hamilton and Wu (2012) and Doh (2010). 5 Others have also used portfolio balance models to estimate the impact of LSAPs.”
International Spillovers of Central Bank Balance Sheet Policies (2012, unknown): “BIS Papers No 66 231 I. Introduction The recent global financial crisis and recession have had a major impact on the design and implementation of monetary policy.”
Unconventional Monetary Policy and the Great Recession: Estimating the Macroeconomic Effects of a Spread Compression at the Zero Lower Bound (2012, unknown): “The latter question has been addressed by a number of recent papers, including Doh (2010), Gagnon et al. (2011) These studies employ a variety of time-series and event-study approaches, and all reach the conclusion that the asset purchase programs were successful at flattening the yield curve.”