This paper was prepared for the conference “Macroeconomics and Financial Intermediation: Directions since the Crisis,” organized jointly by the JMCB, ECARES, University of Ghent, National Bank of Belgium, and CEPR and held in Brussels, Belgium, December 9–10, 2011. We thank three anonymous referees, Robert Kollman, and Ken West (co-editor and editor, respectively) for numerous helpful comments and suggestions. We also benefited from comments by Tom King, Eric Ghysels (our discussant), Matt Raskin, Min Wei, and the conference participants at the 4th Banque de France—Deutsche Bundensbank conference on “Macroeconomics and Finance.” Samuel Haltenhof and Jane Brittingham provided outstanding research assistance. All errors and omissions are our own responsibility. The views expressed in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Board of Governors of the Federal Reserve System or of anyone else associated with the Federal Reserve System.
The Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk
Article first published online: 24 NOV 2013
© 2013 The Ohio State University
Journal of Money, Credit and Banking
Volume 45, Issue s2, pages 29–57, December 2013
How to Cite
GILCHRIST, S. and ZAKRAJŠEK, E. (2013), The Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk. Journal of Money, Credit and Banking, 45: 29–57. doi: 10.1111/jmcb.12070
- Issue published online: 24 NOV 2013
- Article first published online: 24 NOV 2013
- Manuscript Accepted: 5 AUG 2013
- Manuscript Received: 14 JUN 2012
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