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A decade of unconventionality: The long-term impact of the Federal Reserve's large-scale asset purchases (2008-Present) on major financial markets

Author

Listed:
  • Jullian O. TAMARA

    (Independent Researcher)

Abstract

This paper is a comprehensive study of the unconventional monetary policy taken by the Federal Reserve since the financial crisis of 2008, specifically on the purchases of different assets by the Fed to change medium and long-term rates. Included in this study are the three rounds of quantitative easing, and the two rounds of Operation Twist. A study as such is needed in order to examine if the Fed’s purchases of these various long-term assets had any effect on the financial markets in the longer term perspective since the first announcement of the first round of purchase in November 2008. While there exists a variety of literature on the effects of quantitative easing on Treasuries and mortgage backed securities, there is no single study comprising of all the large scale asset purchases by the Fed, covering their effects on all major financial assets. This study is an attempt to fill this void in current literature on quantitative easing.

Suggested Citation

  • Jullian O. TAMARA, 2025. "A decade of unconventionality: The long-term impact of the Federal Reserve's large-scale asset purchases (2008-Present) on major financial markets," Journal of Economics Library, EconSciences Journals, vol. 12(3), pages 116-147, September.
    • Handle: RePEc:cvv:journ5:v:12:y:2025:i:3:p:116-147
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    References listed on IDEAS

    as
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    Keywords

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    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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