BIS economists find Fed's QE helps curb tail risk perception

dollar vortex

A research paper by three economists at the Bank for International Settlements (BIS), published today, sets out to test the theory that unconventional monetary policy actions such as the various rounds of asset purchases by the US Federal Reserve were instrumental in curbing perceptions of tail risks in the economy.

In The Response of Tail Risk Perceptions to Unconventional Monetary Policy, Masazumi Hattori, Andreas Schrimpf and Vladyslav Sushko use both event studies of announcement effects and

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