The ECB's asset purchase programme: A model-based evaluation

被引：17
|
作者：
Sahuc, Jean-Guillaume [1 ]
机构：
[1] Banque France, 31 Rue Croix Petits Champs, F-75049 Paris, France
来源：
ECONOMICS LETTERS | 2016年 / 145卷
关键词：
Asset purchase programme; Forward guidance; Monetary policy; DSGE model; Euro area; POLICY;
D O I：
10.1016/j.econlet.2016.06.009
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper uses a dynamic stochastic general equilibrium model with financial frictions to quantify the effects of the European Central Bank's recent asset purchase programme. Our results suggest that the macroeconomic effects of purchases are potentially important when the programme is associated with forward guidance on the interest rate. The signalling that the future monetary policy stance will remain accommodative is the prominent transmission channel. (C) 2016 Elsevier B.V. All rights reserved.
引用
收藏
页码：136 / 140
页数：5
相关论文
共 50 条
  • [41] Impact of the Asset Purchase Programme on euro area government bond yields using market news
    De Santis, Roberto A.
    ECONOMIC MODELLING, 2020, 86 : 192 - 209
  • [42] Model-Based Evaluation of Growth Hormone Secretion
    Veldhuis, Johannes D.
    Keenan, Daniel M.
    GHRELIN, 2012, 514 : 231 - 248
  • [43] Model-based discontinuity evaluation in the DCT domain
    Kim, TY
    Han, JH
    SIGNAL PROCESSING, 2001, 81 (04) : 871 - 882
  • [44] Facilitating Model-Based Design and Evaluation for Sustainability
    Jarus, Natasha
    Sarvestani, Sahra Sedigh
    Hurson, Ali
    2018 NINTH INTERNATIONAL GREEN AND SUSTAINABLE COMPUTING CONFERENCE (IGSC), 2018,
  • [45] Model-based evaluation: From dependability to security
    Nicol, DM
    Sanders, WH
    Trivedi, KS
    IEEE TRANSACTIONS ON DEPENDABLE AND SECURE COMPUTING, 2004, 1 (01) : 48 - 65
  • [46] Model-Based Evaluation of Rural Development Policies
    Johnson, Thomas G.
    Roberts, Deborah
    Wojan, Timothy R.
    EUROCHOICES, 2010, 9 (01) : 30 - 36
  • [47] An Evaluation of Model-Based Testing in Embedded Applications
    Weissleder, Stephan
    Schlingloff, Holger
    2014 IEEE SEVENTH INTERNATIONAL CONFERENCE ON SOFTWARE TESTING, VERIFICATION AND VALIDATION (ICST), 2014, : 223 - 232
  • [48] Model-based evaluation of clustering validation measures
    Brun, Marcel
    Sima, Chao
    Hua, Jianping
    Lowey, James
    Carroll, Brent
    Suh, Edward
    Dougherty, Edward R.
    PATTERN RECOGNITION, 2007, 40 (03) : 807 - 824
  • [49] A Model-based Approach to Ongoing Product Evaluation
    Humayoun, Shah Rukh
    Dubinsky, Yael
    Catarci, Tiziana
    Nazarov, Eli
    Israel, Assaf
    PROCEEDINGS OF THE INTERNATIONAL WORKING CONFERENCE ON ADVANCED VISUAL INTERFACES, 2012, : 596 - 603
  • [50] Model-based evaluation of HIV prevention interventions
    Pinkerton, SD
    Holtgrave, DR
    Leviton, LC
    Wagstaff, DA
    Abramson, PR
    EVALUATION REVIEW, 1998, 22 (02) : 155 - 174
12345