Lo Duca, Marco; Nicoletti, Giulio; Vidal Martinez, Ariadna - European Central Bank - 2014
The paper investigates the impact of US quantitative easing (QE) on global non-financial corporate bond issuance. It distinguishes between two QE instruments, MBS/GSE debt and Treasury bonds, and disentangles between two channels of transmission of QE to global bond markets, namely flow effects...
