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How Quantitative Easing Works: Evidence on the Refinancing Channel

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NBER2016-09-01 更新2025-01-04 收录
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Despite massive large-scale asset purchases (LSAPs) by central banks around the world since the global financial crisis, there is a lack of empirical evidence on whether and how these programs affect the real economy. Using rich borrower-linked mortgage-market data, we document that there is a

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2016-09-01
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