A Skeptical View of the Impact of the Fed’s Balance Sheet
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We review the recent U.S. monetary policy experience with large scale asset purchases (LSAPs) and draw lessons for monetary policy going forward. A rough consensus from previous studies is that LSAP purchases reduced yields on 10-year Treasuries by about 100 basis points. We argue that the consensus
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美国国家经济研究局创建时间：
2018-06-01
