Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates

By Eric T. Swanson, John C. Williams. 2014

593 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/ecc8833902f81b879985499bcd5b0334f4fa125f

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In Economics and Econometrics

1. P. Karadi
2. Jens H. E. Christensen
3. M. Gertler
4. Glenn D. Rudebusch
5. M. Amir
6. M. Di
7. K. Ramcharan
8. James H. Stock

In Finance

1. Jens H. E. Christensen
2. Glenn D. Rudebusch
3. P. Karadi
4. M. Gertler
5. M. Amir
6. M. Di
7. K. Ramcharan
8. Robert E. Hall

Citations in the corpus

• Monetary Policy Uncertainty and the Market Reaction to Macroeconomic News: Evidence from the Taper Tantrum (2016, unknown): “To overcome this problem, we follow the procedure proposed by Swanson and Williams (2014). The procedure assumes that the relative magnitudes of the response coefficients in (1) are constant over time, and only the overall magnitude of these coefficients varies.”
• Monetary Policy Pass-Through: Household Consumption and Voluntary Deleveraging (2014, background): “7For other papers on the effect of the unconventional monetary policy see Swanson and Williams (2012), Romer and Romer (2013), Krishnamurthy and Vissing-Jorgensen (2011), Krishnamurthy and VissingJorgensen (2012), and Gagnon et al. (2011).”
• The response of interest rates to U.S. and U.K. quantitative easing (2012, background): “…both prior to model estimation and based on estimation results that arguably reduce the small-sample estimation bias, partly by imposing a unit-root property on the most persistent factor and partly by using a long sample.12 10 Support for this view is provided in Swanson and Williams (2012).”
• Monetary Policy Surprises, Credit Costs, and Economic Activity † (2014, background): “Swanson and Williams (2012) make the case that the zero lower bound was not a constraint on the Federal Reserve’s ability to manipulate the two year rate.”
• Monetary Policy in a Low Interest Rate World (2017, unknown): “(1) A number of empirical studies document a decline in r*: Although there is considerable uncertainty about the current level and its future trajectory, many studies—including the paper by Marco Del Negro and others (2017) in the present volume— suggest that r* may be near 1 percent (or lower) at a”