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The yield curve in information under unconventional monetary policies

Author
Ceballos,Luis

Romero,Damián

Full text
https://scielo.conicyt.cl/scielo.php?script=sci_arttext&pid=S0718-88702015000200001
Abstract
This paper attempts to address the question of how unconventional monetary policies affected the market expectations regards the expected path of the monetary policy rate and economic growth in countries where some kind of unconventional monetary policies were applied. The approach used is to compare the implicit expectations in the yield curve with market surveys (for the expected path pf monetary policy rate) and econometric models (for economic growth) and evaluate the accuracy of each forecast at different horizons. We conclude that in the period where unconventional monetary policies were applied, the yield curve provided relevant additional information to forecast the monetary policy rate and economic growth, especially in developed economies.
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Artes, Arquitectura y UrbanismoCiencias Agrarias, Forestales y VeterinariasCiencias Exactas y NaturalesCiencias SocialesDerechoEconomía y AdministraciónFilosofía y HumanidadesIngenieríaMedicinaMultidisciplinarias
Institutions
Universidad de ChileUniversidad Católica de ChileUniversidad de Santiago de ChileUniversidad de ConcepciónUniversidad Austral de ChileUniversidad Católica de ValparaísoUniversidad del Bio BioUniversidad de ValparaísoUniversidad Católica del Nortemore

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