Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
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This paper compares the effects of conventional monetary policy on real borrowing costs with those of the unconventional measures employed after the target federal funds rate hit the zero lower bound (ZLB). For the ZLB period, we identify two policy surprises: changes in the 2-year Treasury yield
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美国国家经济研究局创建时间：
2014-05-01
