LIBROS DEL AUTOR: joseph gagnon

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  • The Financial Market Effects of the Federal Reserve’s Large-Scale Asset Purchases
    Joseph Gagnon / Julie Remache / International Journal of Central Banking
    Since December 2008, the Federal Reserve’s traditional policy instrument, the target federal funds rate, has been effectively at its lower bound of zero. In order to further ease the stance of monetary policy as the economic outlook deteriorated, the Federal Reserve purchased substantial quantities of assets with medium and long maturities. In this paper, we explain how these p...
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