Asset markets and monetary policy shocks at the zero lower bound
Claus, Edda and Claus, Iris and Krippner, Leo, Asset Markets and Monetary Policy Shocks at the Zero Lower Bound (May 1, 2014). CAMA Working Paper No. 42/2014. Available at SSRN: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2442110 “This paper quantifies the impact of monetary policy shocks on asset markets in the United States and gauges the usefulness of a shadow short rate …