We provide empirical estimates of the effect of large-scale asset purchase (LSAP)-style operations on longer-term U.S. Treasury yields within a framework that nests the alternative theoretical perspectives on LSAPs. As the principal channels through which LSAPs migh tmatter for longer-term...

Many researchers have found that the lagged interest rate enters estimated monetary policy rules with overwhelming significance, suggesting that policy adjusts gradually to changes in economic conditions. However, Rudebusch (2002) argues that the lagged interest rate is not a fundamental...

We report the results of a trust survey and public goods experiment conducted with high school students in rural Thailand and Cambodia that together help clarify the dynamics at work in sustaining economic cooperation within these two third-world communities. We find that standard survey...