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;

Access Documents

File(s): File format is application/pdf http://research.stlouisfed.org/publications/es/11/ES1107.pdf

Authors

Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Economic Synopses

Publication Date: 2011

Order Number: 7