Papers by Refet S. Gürkaynak

Published Journal of Monetary Economics Published Oct 2024

Macro and micro of external finance premium and monetary policy transmission

Carlo Altavilla · Refet S. Gürkaynak · Rogier Quaedvlieg

This paper establishes basic facts about the external finance premium (EFP) faced by euro area firms borrowing from banks, and studies how monetary policy is transmitted to it. The EFP — the extra …

Monetary Policy Banking Credit Financial Markets Macro Dynamics Free Read ↗

Published Classic International Journal of Central Banking Published May 2005

Do Actions Speak Louder Than Words? The Response of Asset Prices to Monetary Policy Actions and Statements

Refet S. Gürkaynak · Brian Sack · Eric T. Swanson

This 2005 International Journal of Central Banking paper by Refet Gürkaynak, Brian Sack, and Eric Swanson tests whether asset-price responses to FOMC announcements can be adequately characterized by a …

Central Bank Communication High Frequency Identification

Published Classic American Economic Review Published Feb 2005

The Sensitivity of Long-Term Interest Rates to Economic News: Evidence and Implications for Macroeconomic Models

Refet S. Gürkaynak · Brian Sack · Eric Swanson

This 2005 American Economic Review paper by Refet Gürkaynak, Brian Sack, and Eric Swanson asks whether long-term forward interest rates respond to daily macroeconomic and monetary-policy news, a …

Central Bank Communication Term Structure Yield Curve