On Thursday, March 24, Arvind Krishnamurthy joined Markus’ Academy for a lecture on QE: What Have we Learned? Krishnamurthy is a Professor of Finance at the Stanford Graduate School of Business.
Watch the livestream below. You can also download the presentation slides and watch all Markus’ Academy webinars on the Princeton BCF YouTube channel.
[0:00] Introductory Remarks.
[13:46] Identification challenges in asset pricing event studies.
[29:11] Cases: UK Gilt purchases
[35:42] Cases: Fed reinvesting asset portfolio
[39:12] More unconventional narrow-channel studies
[49:58] Asset pricing theory with narrow channels
[1:00:19] Macroeconomic effects
[1:11:52] Further modeling, policy implications, and research wishlist