Following the outbreak of the COVID-19 pandemic, the Federal Reserve (Fed) and Central Banks around the world multilaterally conducted a mix of unconventional monetary policies. We evaluate the effects of these recent interventions vis-a-vis earlier episodes of Quantitative Easing (QE)...

We compile a new monthly database for each Federal Reserve district between 1923-33 to analyze the national and regional nature of the monetary transmission mechanism around the Great Depression. We employ sign-identified structural VARs and narrative sign restrictions informed by...