Quantitative easing and long-term yields in small open economies / by Antonio Diez de los Rios and Maral Shamloo. : FB3-5/2017-26E-PDF
"We compare the Federal Reserve's asset purchase programs with those implemented by the Bank of England and the Swedish Riksbank, and the Swiss National Bank's reserve expansion program. We decompose government bond yields into (i) an expectations component, (ii) a global term premium and (iii) a country-specific term premium to analyse two-day changes in 10-year yields around announcement dates. We find that, in contrast to the Federal Reserve's asset purchases, the programs implemented in these smaller economies have not been able to affect the global term premium and, consequently, their effectiveness in lowering long-term yields has been limited."--Abstract, p. ii.
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| Ministère/Organisme | Bank of Canada. |
|---|---|
| Titre | Quantitative easing and long-term yields in small open economies / by Antonio Diez de los Rios and Maral Shamloo. |
| Titre de la série | Bank of Canada staff working paper, 1701-9397 ; 2017-26 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Format | Électronique |
| Document électronique | |
| Note(s) | "July 2017." Includes bibliographical references. Includes abstract in French. |
| Information sur la publication | [Ottawa] : Bank of Canada, 2017. |
| Auteur / Contributeur | Diez de los Rios, Antonio. Shamloo, Maral. |
| Description | ii, 43 p. : col. charts |
| Numéro de catalogue |
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| Descripteurs | Monetary policy Interest rates |