Eric Santor - Latest

• Quantitative Easing as a Policy Tool Under the Effective Lower Bound

  Staff Discussion Paper 2015-14 Abeer Reza, Eric Santor, Lena Suchanek

  This paper summarizes the international evidence on the performance of quantitative easing (QE) as a monetary policy tool when conventional policy rates are constrained by the effective lower bound (ELB). A large body of evidence suggests that expanding the central bank’s balance sheet through large-scale asset purchases can provide effective stimulus under the ELB.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, International topics, Monetary policy framework, Monetary policy transmission JEL Code(s): E, E5, E52, E58, E6, E61, E65, N, N1, N10

• Large-Scale Asset Purchases: Impact on Commodity Prices and International Spillover Effects

  Staff Working Paper 2015-21 Sharon Kozicki, Lena Suchanek, Eric Santor

  Prices of commodities, including metals, energy and agricultural products, rose markedly over the 2009–2010 period. Some observers have attributed a significant part of this increase in commodity prices to the U.S. Federal Reserve’s large-scale asset purchase (LSAP) programs.

  Content Type(s): Staff working papers Topic(s): International topics JEL Code(s): E, E5, E58, G, G1, G14, Q, Q0, Q00