SEARCH

SEARCH BY CITATION

References

  • Andrés, J., López-Salido, J.D. and Nelson, E. (2004). ‘Tobin’s imperfect asset substitution in optimizing general equilibrium’, Journal of Money, Credit and Banking, vol. 36(4), pp. 66590.
  • Baumeister, C. and Benati, L. (2010). ‘Unconventional monetary policy and the great recession - Estimating the impact of a compression in the yield spread at the zero lower bound’, Working Paper Series No. 1258, European Central Bank.
  • Bernanke, B. and Gertler, M. (1989). ‘Agency costs, net worth and business fluctuations’, American Economic Review, vol. 79, pp. 1431.
  • Bridges, J. and Thomas, R. (2012). ‘The impact of QE on the UK economy — some supportive monetarist arithmetic’, Bank of England Working Paper No. 442.
  • Brunner, K. and Meltzer, A.H. (1973). ‘Mr Hicks and the “monetarists”’, Economica, vol. 40(157), pp. 4459.
  • Chen, H., Cúrdia, V. and Ferrero, A. (2012). ‘The macroeconomic effects of large-scale asset purchase programs’, Economic Journal , vol. 122(564), pp. F289315.
  • Christensen, J.H.E. and Rudebusch, G.D. (2012). ‘The response of government yields to central bank purchases of long-term bonds’, Economic Journal , vol. 122(564), pp. F385414.
  • Chung, H., Laforte, J.-P., Reifschneider, D. and Williams, J.C. (2012). ‘Have we underestimated the likelihood and severity of zero lower bound events?’, Journal of Money, Credit and Banking, vol. 44(Supplement), pp. 4782.
  • Culbertson, J. (1957). ‘The term structure of interest rates’, Quarterly Journal of Economics, vol. 71, pp. 485517.
  • Curdia, V. and Woodford, M. (2011). ‘The central-bank balance sheet as an instrument of policy’, Journal of Monetary Economics, vol. 58, pp. 5479.
  • D'Amico, S., English, W., López-Salido, J.D. and Nelson, E. (2012). ‘The Federal Reserve's large-scale asset purchase programs: rationale and effects’, Economic Journal , vol. 122(564), pp. F41546.
  • D’Amico, S. and King, T.B. (2010). ‘Flow and stock effects of large-scale treasury purchases’, Finance and Economics Discussion Series No. 2010-52.
  • Eggertsson, G. and Woodford, M. (2003). ‘The zero bound on interest rates and optimal monetary policy’, Brookings Papers on Economic Activity, vol. 1, pp. 139211.
  • Fahr, S., Motto, R., Rostagno, M., Smets, F. and Tristani, O. (2010). ‘Lessons for monetary policy strategies from the recent past’, ECB Working Paper Series No. 1336.
  • Gagnon, J., Raskin, M., Remache, J. and Sack, B. (2011). ‘The financial market effects of the Federal Reserve’s large-scale asset purchases’, International Journal of Central Banking, vol. 7(10) 2011, pp. 343.
  • Giannone, D., Lenza, M., Pill, H. and Reichlin, L. (2011). ‘Non-standard monetary policy measures and monetary developments’, in (Jagjit.S. Chadha and Sean. Holly, eds), Interest Rates, Prices and Liquidity - Lessons from the Financial Crisis, pp. 195221, Cambridge: Cambridge University Press.
  • Giannone, D., Lenza, M., Pill, H. and Reichlin, L. (2012). ‘The ECB and the interbank market’, E conomic Journal, vol. 122(564), pp. F46786.
  • Greenwood, R. and Vayanos, D. (2010). ‘Bond supply and excess bond returns’, NBER Working Paper.
  • Hamilton, J.D. and Wu, J.C. (2012). ‘The effectiveness of alternative monetary policy tools in a zero lower bound environment’, Journal of Money, Credit and Banking, vol. 44(Supplement), pp. 346.
  • Holmstrom, B. and Tirole, J. (1998). ‘Public and private supply of liquidity’, Journal of Political Economy, vol. 106, pp. 140.
  • Joyce, M., Lasaosa, A., Stevens, I. and Tong, M. (2011a). ‘The financial market impact of quantitative easing’, International Journal of Central Banking, vol. 7(3), pp. 11361.
  • Joyce, M.A.S. and Tong, M. (2012). ‘QE and the gilt market: a disaggregated analysis’, Economic Journal , vol. 122(564), pp. F34884.
  • Joyce, M., Tong, M. and Woods, R. (2011b). ‘The United Kingdom’s quantitative easing policy: design, operation and impact’, Bank of England Quarterly Bulletin 2011 Q3, vol. 51(3), pp. 20012.
  • Kapetanios, G., Mumtaz, H., Stevens, I. and Theodoridis, K. (2012). ‘Assessing the economy-wide effects of quantitative easing’, E conomic Journal, vol. 122(564), pp. F31647.
  • Kiyotaki, N. and Moore, J. (1997). ‘Credit cycles’, Journal of Political Economy, vol. 105, pp. 2011248.
  • Kiyotaki, N. and Moore, J. (2012). ‘Liquidity, business cycles and monetary policy’, NBER Discussion Paper no 17934, March.
  • Kozicki, S., Santor, E. and Suchanek, E. (2011). ‘Central bank balance sheets and long-term forward rates’, in (Jagjit.S. Chadha and S. Holly, eds.), Interest Rates, Prices and Liquidity - Lessons from the Financial Crisis, pp. 195221, Cambridge: Cambridge University Press.
  • Krishnamurthy, A. and Vissing-Jorgensen, A. (2011). ‘The effects of quantitative easing on interest rates: channels and implications for policy’, Brookings Papers on Economic Activity, vol. 2, pp. 21587.
  • Lenza, M., Pill, H. and Reichlin, L. (2010). ‘Monetary policy in exceptional times’, Economic Policy, vol. 62, pp. 295339.
  • Meier, A. (2009). ‘Panacea, curse, or nonevent: unconventional monetary policy in the United Kingdom’, IMF Working Paper No. 09/163.
  • Miles, D. (2011). ‘Monetary policy and financial dislocation’, Royal Economic Society lecture. http://www.bankofengland.co.uk/publications/speeches/2011/speech521.pdf (last accessed: 23 July 2012).
  • Miles, D. (2012). ‘Asset prices, saving and the wider effects of monetary policy’, Speech at the Pro Manchester Business Conference, March. http://www.bankofengland.co.uk/publications/speeches/2012/speech549.pdf (last accessed: 23 July 2012).
  • Modigliani, F. and Sutch, R.C. (1966). ‘Innovations in interest rate policy’, American Economic Review, Papers and Proceedings, vol. 56(2), pp. 17897.
  • Neely, C. (2012). ‘The large-scale asset purchases had large international effects’, Federal Reserve Bank of St. Louis Working Paper No. 2010-018A.
  • Peersman, G. (2011). ‘The macroeconomic effects of unconventional monetary policy in the euro area’, ECB Working Paper Series No. 1397.
  • Sinn, H.-W. and Wollmershauser, T. (2011). ‘Target Loans, current account balances and capital flows: the ECB’s rescue facility’, CESIFO Working Paper No. 3500.
  • Swanson, E.T. (2011). ‘Let's twist again: a high-frequency event-study analysis of Operation Twist and its implications for QE2’, Brookings Papers on Economic Activity, Spring 2011, pp. 151207.
  • Tobin, J. (1961). ‘Money, capital and other stores of value’, American Economic Review, Papers and Proceedings, vol. 51(2), pp. 2637.
  • Tobin, J. (1963). ‘An essay on the principles of debt management’, in Commission on Money and Credit, Fiscal and Debt Management Policies, pp. 143218, Englewood Cliffs, NJ: Prentice Hall.
  • Tobin, J. (1969). ‘A general equilibrium approach to monetary theory’, Journal of Money, Credit and Banking, vol. 1(1), pp. 1529.
  • Trichet, J.-C. (2009). ‘The ECB’s enhanced credit support’, keynote address at the University of Munich http://www.ecb.int/press/key/date/2009/html/sp090713.en.html (last accessed: 13 July 2009).
  • Vayanos, D. and Vila, J.-L. (2009). ‘A preferred-habitat model of the term structure of interest rates’, NBER Working Paper No. 15487.
  • Wallace, N. (1981). ‘A Modigliani-Miller theorem for open-market operations’, American Economic Review, vol. 71, pp. 26774.
  • Woodford, M. (2003). Interest and Prices: Foundations of a Theory of Monetary Policy, Princeton NJ: Princeton University Press.
  • Wright, J. (2012). ‘What does monetary policy do at the zero lower bound?’, E conomic Journal, vol. 122(564), pp. F44766.