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Keywords:Large-scale asset purchases (LSAPs) 

Speech
Implementation of open market operations in a time of transition

Remarks before the Japan Center for Economic Research, Tokyo, Japan.
Speech , Paper 142

Journal Article
Evaluating Quantitative Easing: The Importance of Accounting for Forward Guidance

During the COVID-19 pandemic crisis, policymakers used large-scale asset purchases (LSAPs) along with forward guidance about the future path of the federal funds rate to help stabilize financial markets. However, policymakers and economists have yet to reach a consensus on the efficacy of LSAPs in providing accommodation and improving macroeconomic outcomes. Because announced changes in LSAPs often coincide with changes in forward guidance, the market responses to these two tools can be difficult to disentangle and each tool’s efficacy challenging to evaluate.Brent Bundick and A. Lee Smith ...
Economic Review , Volume 107 , Issue no.3 , Pages 16

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