BoJ paper finds US crisis policy more impactful on markets than European measures
Markets responded more strongly to US policy announcements
A discussion paper published today by the Bank of Japan (BoJ) finds US policies unveiled during the financial crisis had a bigger impact on financial markets than those originating in Europe.
Market perceptions of US and European policy actions around the subprime crisis, by Theoharry Grammatikos, Thorsten Lehnert and Yoichi Otsubo, examines monetary policy, liquidity injections and financial sector policies such as the US's Troubled Asset Relief Program, modelling its impact on financial market
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