00000nam 2200000za 4500 9.859457 CaOODSP 20221107160245 cr ||||||||||| 180723s2018 oncd ob f000 0 eng d CaOODSP eng eng fre FB3-6/2018-7E-PDF Barnett, Russell A. Assessing the impact of demand shocks on the US term premium [electronic resource] / by Russell Barnett and Konrad Zmitrowicz. [Ottawa] : Bank of Canada, 2018. iii, 28 p. : charts (some col.) Bank of Canada staff discussion paper, 1914-0568 ; 2018-7 "July 2018." Includes bibliographical references (p. 23-25). "During and after the Great Recession of 2008–09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more commonly known as quantitative easing or QE, to provide additional monetary stimulus. Gauging the effectiveness of LSAPs is important, since the ELB may be a constraint on conventional monetary policy more frequently in the future than it was in the past. In this paper we analyze two distinct periods where we observe exogenous demand shocks for 10-year US Treasury bonds to assess their impact on the term premium"--Abstract, p. ii. Includes abstract in French. Quantitative easing (Monetary policy) Monetary policy Interest rates Zmitrowicz, Konrad. Bank of Canada. Staff discussion paper (Bank of Canada) 1914-0568 ; 2018-7. (CaOODSP)9.806273 PDF 720 KB https://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-6-2018-7-eng.pdf