A History of Large-Scale Asset Purchases Before the Federal Reserve

The authors find that between 1870 and 1913, large open market purchases of Treasury securities made by the U.S. Treasury Department narrowed the yield spread between Treasury bonds with high interest rate risk (the risk of an investment's value changing on account of interest rate changes) and those with low interest rate risk

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Year of publication:	2014
Authors:	Chabot, Benjamin Remy
Other Persons:	Herman, Gabriel (contributor)
Publisher:	[2014]: [S.l.] : SSRN
Subject:	Geldpolitik \| Monetary policy \| Zentralbank \| Central bank \| Offenmarktpolitik \| Open market operations \| Geschichte \| History \| Staatspapier \| Government securities \| Quantitative Lockerung \| Quantitative easing

Extent:	1 Online-Ressource (13 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Economic Perspectives, Vol. XXXVII, No. 4, 2014 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 11, 2014 erstellt
Classification:	E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization ; E58 - Central Banks and Their Policies ; E43 - Determination of Interest Rates; Term Structure Interest Rates ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013054352