Journal Article
Monetary policy at the zero bound
Abstract: The average relationship between changes in the 10-year Treasury yield and changes in the funds rate over the 1987-2007 sample period is not indicative of the relationship between changes in the funds rate and changes in the 10-year Treasury yield that existed for more than a decade prior to the financial crisis.
Keywords: Interest rates; Monetary policy;
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File(s): File format is application/pdf http://research.stlouisfed.org/publications/es/11/ES1107.pdf
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Bibliographic Information
Provider: Federal Reserve Bank of St. Louis
Part of Series: Economic Synopses
Publication Date: 2011
Order Number: 7