Gateway to Think Tanks
Event studies and the random walk hypothesis: Why the end of bond buying by the ECB is a non-event | |
Ansgar Belke; Daniel Gros | |
发表日期 | 2018-12-21 |
出处 | Monetary Policy |
出版年 | 2018 |
语种 | 英语 |
摘要 | The ending of the ECB's bond buying programme had no impact on interest rates. In this blogpost published on the CEPR Policy Portal, Ansgar Belke and Daniel Gros argue that this is because while the programme might have lowered rates when it was announced, the impact was only transitory. The ECB has now stopped its bond buying programme. It will keep its stock unchanged, but will make no new net purchases. But neither the announcement nor the phasing out of the purchases seems to have had any impact on interest rates. Most of the evidence on central bank bond buying, often called quantitative easing (QE), comes from ‘event studies’. These studies look at changes in interest rates around the dates when central banks announce their intention to buy large amounts of government bonds. Read more on Vox here.
|
主题 | Economy and Finance |
URL | https://www.ceps.eu/publications/event-studies-and-random-walk-hypothesis-why-end-bond-buying-ecb-non-event |
来源智库 | Centre for European Policy Studies (Belgium) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/64677 |
推荐引用方式 GB/T 7714 | Ansgar Belke,Daniel Gros. Event studies and the random walk hypothesis: Why the end of bond buying by the ECB is a non-event. 2018. |
条目包含的文件 | 条目无相关文件。 |
个性服务 |
推荐该条目 |
保存到收藏夹 |
导出为Endnote文件 |
谷歌学术 |
谷歌学术中相似的文章 |
[Ansgar Belke]的文章 |
[Daniel Gros]的文章 |
百度学术 |
百度学术中相似的文章 |
[Ansgar Belke]的文章 |
[Daniel Gros]的文章 |
必应学术 |
必应学术中相似的文章 |
[Ansgar Belke]的文章 |
[Daniel Gros]的文章 |
相关权益政策 |
暂无数据 |
收藏/分享 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。