Dollar Reserves and U.S. Yields: Identifying the Price Impact of Official Flows
收藏NBER2022-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w30476
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资源简介：
This paper shows that the price impact of foreign official (FO) purchases or sales of U.S. Treasuries (USTs) is about twice as large as previously reported in the literature once critical sources of endogeneity are addressed. We also show that prevailing estimates of this price impact suffer from
提供机构：
美国国家经济研究局
创建时间：
2022-09-01
