The Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk

Material TypeArticleLanguageEnglish
TitleThe Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk Author(S)GILCHRIST SIMON (Author)
Abstract  Estimating the effect of Federal Reserve's announcements of Large-Scale Asset Purchase (LSAP) programs on corporate credit risk is complicated by the simultaneity of policy decisions and movements in prices of risky financial assets, as well as by the fact that both interest rates of assets targeted by the programs and indicators of credit risk reacted to other common shocks during the recent financial crisis. ...Paginationp 29–57
SubjectEconomicsDescriptorsEconomics
Journal TitleJournal of Money, Credit, and Banking  
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