QE and the Gilt Market
A Disaggregated Analysis
Datos Bibliográficos
| ID | 9712988 |
|---|---|
| Autores | Michael Joyce (0000-0002-9173-7299, Bank of England), Michael A S Joyce (Bank of England), Matthew Tong (Bank of England) |
| Año | 2012 |
| Volumen | 122 |
| Número | 564 |
| Páginas | F348-F384 |
| Fecha de publicación | 2012-11-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | The Economic Journal (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editorial | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2012.02552.x |
| OpenAlex | W3121902192 |
| Idioma | EN |
| Citas recibidas | 15 |
| Referencias citadas | 23 |
We examine the impact of the first phase of the Bank of England's quantitative easing (QE) programme during March 2009–January 2010 on the UK government bond (gilt) market, using high‐frequency, disaggregated data on individual gilts. We find that: QE announcements took varying amounts of time to get incorporated into market prices and had significant effects on the shape of the term structure; the Bank's reverse auctions were initially associated with additional yield reductions; and, allowing for fiscal news and the changing macroeconomic outlook, QE appears to have had persistent effects on gilt yields
Bond · Central bank · Common value auction · Economics · Government bond · Interest rate · Microeconomics · Monetary economics · Monetary policy · Quantitative easing · Yield (engineering · Yield curve · Finance · Fiscal Policies and Political Economy · Housing Market and Economics · Monetary Policy and Economic Impact
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| Obras citantes distintas | 15 |
|---|---|
| Citas por año | 1,07 |
| Intervalo de citas | 2012 - 2025 (14) |
| Velocidad de citación | recent |
| Altamente citado | No |
| Tipos de cita | Neutras: 15 |