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Monetary Policy Uncertainty and the Response of the Yield Curve to Policy Shocks
This paper studies the non-linear response of the term structure of interest rates to monetary policy shocks. We show that uncertainty about monetary policy changes the way the term structure responds to monetary policy. A policy tightening leads to a significantly smaller increase in long-term b...
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| izdano v: | MAGKS - Joint Discussion Paper Series in Economics (Band 24-2017) |
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| Glavni avtor: | |
| Format: | Artikel |
| Jezik: | angleščina |
| Izdano: |
Philipps-Universität Marburg
2017
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| Teme: | |
| Online dostop: | PDF-Volltext |
| Oznake: |
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MAGKS - Joint Discussion Paper Series in Economics