E43 - Interest Rates: Determination, Term Structure, and Effects

• Quantitative Easing and Long‐Term Yields in Small Open Economies

  Staff Working Paper 2017-26 Antonio Diez de los Rios, Maral Shamloo

  We compare the Federal Reserve’s asset purchase programs with those implemented by the Bank of England and the Swedish Riksbank, and the Swiss National Bank’s reserve expansion program.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Interest rates, Monetary policy JEL Code(s): E, E4, E43, E5, E52, E58, G, G1, G12

• Monetary Policy Implementation in a Negative Rate Environment

  Staff Working Paper 2017-25 Michael Boutros, Jonathan Witmer

  Monetary policy implementation could, in theory, be constrained by deeply negative rates since overnight market participants may have an incentive to invest in cash rather than lend to other participants.

  Content Type(s): Staff research, Staff working papers Topic(s): Interest rates, Monetary policy framework, Monetary policy implementation JEL Code(s): E, E4, E40, E42, E43, G, G0