Język Polski
English
Published
:
2014-10-30
The Efficiency of the Federal Reserve Non-Standard Measures in Light of Empiric Evidence and Market Data Changes
Hanna Żywiecka
Abstract
The most significant element of unconventional monetary policy, applied for the first time in a bigger scale by the Federal Reserve in 2008, was Direct Quantitative Easing. This consisted of public sector asset purchases containing Government Sponsored Debt and Mortgage-Backed Securities, as well as, Treasury Papers. Asset purchases known as the Large Scale Asset Purchase program contributed to the growth of commercial bank liquidity, as well as, to the improvement of financing conditions on the market as, thanks to the portfolio effect, the long term interest rates were decreased. Some positive effects on the labour market, as well as, in the area of economic activity can be proven as well.(original abstract)Keywords:
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Żywiecka, H. (2014). The Efficiency of the Federal Reserve Non-Standard Measures in Light of Empiric Evidence and Market Data Changes. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 56(5). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/1103