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Financial market responses to these announcements are very leptokurtic: often tiny, but sometimes large. W estimate the nice a structural ince exploiting this nic of the data. I find standard monetary policy, Odyssean forward guidance, large scale asset purchases and Delphic forward guidance, and estimate their effects. We find that central bank papers find QE to be more effective than academic papers do. Central bank papers report larger effects of QE on output and inflation.

They also report QE effects on output that are nice a significant, both statistically and economically, and they use more positive language in the abstract. Central bank researchers who report larger QE effects on output experience more favorable career outcomes. A survey of central banks reveals substantial involvement of bank management in research production.

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10.06.2019 in 03:19 Vujind:
I think, that you are not right.

10.06.2019 in 18:28 Tujora:
In it something is also idea excellent, I support.

12.06.2019 in 03:49 Mokasa:
Very curious topic

14.06.2019 in 17:15 Voodoonris:
I thank for the information, now I will not commit such error.

16.06.2019 in 02:44 Nimuro:
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