http://www.bis.org/cbhub/list/author/author_2226/index.rss Research hub papers by author Samuel Reynard en http://www.snb.ch/n/mmr/reference/working_paper_2012_02/source/working_paper_2012_02.n.pdf Swiss National Bank Working Papers by Signe Krogstrup, Samuel Reynard and Barbara Sutter Liquidity Effects of Quantitative Easing on Long-Term Interest Rates 2012-04-20T12:39:00Z This paper argues that the expansion in reserves following recent quantitative easing programs of the Federal Reserve may have affected long-term interest rates through liquidity effects. The data lends some support for liquidity effects, in that reserves were negatively correlated with long-term yields at the zero lower bound. Estimates suggest that between January 2009 and 2011, 10-year US Treasury yields fell 46-85 basis points as a result of liquidity effects. The liquidity effect is separate from the portfolio balance effect of the change in the public supply of Treasury bonds, which is estimated to have reduced yields by another 20 basis points during that period. Liquidity Effects of Quantitative Easing on Long-Term Interest Rates 2012-04-20T12:39:00Z Full text http://www.snb.ch/n/mmr/reference/working_paper_2012_02/source/working_paper_2012_02.n.pdf Signe Krogstrup Samuel Reynard Barbara Sutter Signe Krogstrup, Samuel Reynard and Barbara Sutter 2012-04-20 Swiss National Bank Working Papers E43 E52 E58 http://www.snb.ch/n/mmr/reference/working_paper_2006_07/source/working_paper_2006_07.n.pdf Swiss National Bank Working Papers by Samuel Reynard Money and the Great Disinflation 2010-11-03T17:38:59Z Money and the Great Disinflation 2010-11-03T17:38:59Z Full text http://www.snb.ch/n/mmr/reference/working_paper_2006_07/source/working_paper_2006_07.n.pdf Samuel Reynard Samuel Reynard 2010-11-03 Swiss National Bank Working Papers http://www.snb.ch/n/mmr/reference/working_paper_2010_04/source/working_paper_2010_04.n.pdf Swiss National Bank Working Papers by Samuel Reynard and Andreas Schabert Modeling Monetary Policy 2010-02-26T12:43:00Z Modeling Monetary Policy 2010-02-26T12:43:00Z Full text http://www.snb.ch/n/mmr/reference/working_paper_2010_04/source/working_paper_2010_04.n.pdf Andreas Schabert Samuel Reynard Samuel Reynard and Andreas Schabert 2010-02-26 Swiss National Bank Working Papers http://www.snb.ch/n/mmr/reference/working_paper_2008_14/source/working_paper_2008_14.n.pdf Swiss National Bank Working Papers by Samuel Reynard What Drives the Swiss Franc? 2008-09-01T12:00:00Z What Drives the Swiss Franc? 2008-09-01T12:00:00Z Full text http://www.snb.ch/n/mmr/reference/working_paper_2008_14/source/working_paper_2008_14.n.pdf Samuel Reynard Samuel Reynard 2008-08-28 Swiss National Bank Working Papers http://www.snb.ch/ext/link?url=%2fn%2fmmr%2freference%2fworking_paper_2007_05 Swiss National Bank Working Papers by Samuel Reynard Maintaining Low Inflation: Money, Interest Rates, and Policy StancePublished in: 2008-06-01T12:00:00Z Maintaining Low Inflation: Money, Interest Rates, and Policy StancePublished in: 2008-06-01T12:00:00Z Abstract http://www.snb.ch/ext/link?url=%2fn%2fmmr%2freference%2fworking_paper_2007_05 Samuel Reynard Samuel Reynard 2007 Swiss National Bank Working Papers http://www.ecb.int/pub/pdf/scpwps/ecbwp756.pdf European Central Bank Working papers by Samuel Reynard Maintaining low inflation: money, interest rates, and policy stance 2007-05-23T17:38:00Z Maintaining low inflation: money, interest rates, and policy stance 2007-05-23T17:38:00Z ECB Full text http://www.ecb.int/pub/pdf/scpwps/ecbwp756.pdf Samuel Reynard Samuel Reynard 2007-05 European Central Bank Working papers E3 E41 E52 E58 http://www.snb.ch/n/mmr/reference/working_paper_2004_01/source Swiss National Bank Working Papers by Reynard, Samuel Financial Market Participation and the Apparent Instability of Money Demand 2004-05-01T12:00:00Z Financial Market Participation and the Apparent Instability of Money Demand 2004-05-01T12:00:00Z Full text http://www.snb.ch/n/mmr/reference/working_paper_2004_02/source Samuel Reynard Reynard, Samuel 2004 Swiss National Bank Working Papers E41 E44 G11