The Federal Reserve has been using quantitative easing and quantitative tightening to conduct monetary policy. The approach has been effective in achieving the Federal Reserve's goals. The strong ...

This paper evaluates the popular view that quantitative easing exerts greater international spillovers than conventional monetary policies. To distinguish the effects of these policies, we use a term ...

This paper investigates the impact of monetary policy on capital misallocation, focusing on its heterogeneous effects on firms. Using Spanish firm-level data spanning 1999 to 2019, we demonstrate that ...

The Federal Reserve tightened monetary policy rapidly between 2021 and 2023. In addition, a weekly proxy federal funds rate shows that markets perceived the policy stance as tightening significantly ...

Monetary policy influences inflation dynamics by exerting impact on a diverse array of commodity prices. At high frequencies, we show that a 10 basis points increase in US monetary policy rate reduces ...

Last month, the Bank of Japan (BOJ) took its first step in the ‘normalisation’ of monetary policy. It raised the Bank’s short-term policy interest rate from negative 0.1 per cent to 0–0.1 per cent and ...