Unconventional-Monetary-Policy

Online First Journal of Money, Credit and Banking Online 24 Oct 2024

Central Bank Independence at Low Interest Rates

BENJAMÍN GARCÍA · ARSENIOS SKAPERDAS

This paper constructs a new measure of political pressure on the Federal Reserve from textual analysis of Fed Chairs’ testimonies at Humphrey-Hawkins congressional hearings, and documents that …

Central Bank Independence Monetary Policy Unconventional Monetary Policy Political Economy Free Read ↗

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Online First Journal of Money, Credit and Banking Online 2 Dec 2025

Credit Easing versus Quantitative Easing: Evidence from Corporate and Government Bond Purchase Programs

Stefania D'Amico · Iryna Kaminska

Using security-level data on individual corporate bond prices and the Bank of England’s published purchase quantities across its gilt purchase programs (QE1: £200bn, QE2: £125bn, QE3: £50bn, …

Unconventional Monetary Policy Quantitative Easing Monetary Policy Asset Prices Risk Premia Monetary Policy Transmission

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Online First Journal of Money, Credit and Banking Online 23 Jun 2026

Passive Quantitative Easing: Bond Supply Effects through Lower Debt Issuance

Jens H. E. Christensen · Simon T. Hetland

The paper introduces the concept of “passive quantitative easing” (passive QE): a deliberate reduction in government debt issuance that lowers anticipated future bond supply and reduces …

Unconventional Monetary Policy Quantitative Easing Balance Sheet Policy Fiscal Monetary Interactions Safe Assets Convenience Yield Term Structure Yield Curve

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