---
title: The Impact of Central Bank Stock Purchases: Evidence from Discontinuities in Policy Rules
url: https://www.ml-quant.com/papers/repec/nbr-nberwo-35886/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-11-06
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:nbr:nberwo:35886
source_url: https://econpapers.repec.org/RePEc:nbr:nberwo:35886
featured: 2026-11-06
citations: unknown
topic: Asset Pricing & Factors
---


# The Impact of Central Bank Stock Purchases: Evidence from Discontinuities in Policy Rules

Using policy-rule discontinuities, the study finds BOJ stock purchases raise long-term rates but lift prices only after yield curve control pegged rates at zero.

- Source: https://econpapers.repec.org/RePEc:nbr:nberwo:35886
- Identifier: RePEc:nbr:nberwo:35886
- Released: 2026-11-02
- First featured: Quant Letter No. 138 (2026-11-06): https://www.ml-quant.com/issues/2026-11-06/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Asset Pricing & Factors
- Authors: Masao Fukui, Masayuki Yagasaki

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