Jones, Callum; Kulish, Mariano - In: Journal of Economic Dynamics and Control 37 (2013) 12, pp. 2547-2561
We study two kinds of unconventional monetary policies: announcements about the future path of the short-term rate and long-term nominal interest rates as operating instruments of monetary policy. We do so in a model where the risk premium on long-term debt is, in part, endogenously determined....
