Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154384
Authors: 
Altavilla, Carlo
Giannone, Domenico
Year of Publication: 
2016
Series/Report no.: 
ECB Working Paper 1951
Abstract: 
We assess professional forecasters’ perceptions of the effects of the unconventional monetary policy measures announced by the US Federal Reserve after the collapse of Lehman Brothers. Using survey data, collected at individual level, we analyze the change in the forecasts for Treasury and corporate bond yields around the announcement dates of the non-standard measures. We find that forecasters expected bond yields to drop significantly for at least one year after the announcement of accommodative policies.
Subjects: 
forward guidance
large scale asset purchases
operation twist
quantitative easing
survey of professional forecasters
tapering
JEL: 
E58
E65
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-2199-2
Document Type: 
Working Paper

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