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- W2895891152 abstract "Abstract We quantify the responses of a wide range of United States financial market variables to domestic monetary policy shocks over conventional and unconventional monetary policy environments. Our results show that responses to policy shocks are in the same direction but generally larger and more significant in the unconventional period. The larger responses are mostly due to larger shocks in the unconventional period, but some variables show evidence of a larger transmission of shocks. We separately use our framework to test shadow short rate estimates as a proxy for short-maturity interest rates across conventional and unconventional periods." @default.
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- W2895891152 date "2018-12-01" @default.
- W2895891152 modified "2023-10-16" @default.
- W2895891152 title "Asset market responses to conventional and unconventional monetary policy shocks in the United States" @default.
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- W2895891152 doi "https://doi.org/10.1016/j.jbankfin.2018.10.009" @default.
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