Series: IMF Working Papers
Author(s): Iryna Kaminska , and Gabriele Zinna
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 18 April 2014
Keywords: Term structure of interest rates, Large Scale Asset Purchases (LSAP), real yield curve, Bayesian estimation, bond, treasury bond, bond yields, bond prices, General,
By constructing and estimating a structural arbitrage-free model of demand pressures on US real rates, we find that recent purchases of US government debt securities by the Fed and foreign officials have significan...