French paper examines impact of ECB policy changes on asset prices
Researchers say method captures use of unconventional measures
A working paper published by the Banque de France last week examines the impact of monetary policy shocks on financial asset prices – highlighting the "changed nature" of the monetary policy transmission mechanism in the wake of the crisis.
In Euro area monetary policy shocks: impact on financial asset prices during the crisis? Caroline Jardet and Allen Monks assess the impact of European Central Bank (ECB) policy announcements between 2002 and 2013 on short-term interest rates – what they call
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