资产负债表缩减与政策加息之间的可替代性:一些例证与讨论

FEDS Notes Pub Date : 2022-06-01 DOI:10.17016/2380-7172.3147

E. Crawley, Etienne Gagnon, J. Hebden, James Trevino

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引用次数: 3

摘要

本文探讨了政策加息和缩减美联储资产负债表规模之间的可替代性，以消除政策宽松。我们使用的是FRB/US模型的一个版本，该模型增强了美联储资产持有量变化对期限溢价的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Substitutability between Balance Sheet Reductions and Policy Rate Hikes: Some Illustrations and a Discussion

This note explores the substitutability between policy rate hikes and reductions in the size of the Federal Reserve's balance sheet for the removal of policy accommodation. We do so using a version of the FRB/US model augmented to incorporate the effects of changes in the Federal Reserve's asset holdings on term premiums.

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FEDS Notes

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