Construction of Grain Price Determinants Analysis Model Based on Structural Vector Autoregressive Model

Table 1

The Fed’s three quantitative easing monetary policy schedules.

Time period		Measurements
QE1	Dec. 2008–March 2010	Purchased a total of $1.25 trillion in institutional MBS and $300 billion in Treasury bonds.
QE2	Nov. 2010–June 2011	A total of $600 billion in Treasury bonds were purchased.
QE3	Sep. 2012–Oct. 2014	Purchase of $40 billion of MBS per month with distortion operations (OT) since Sep. 2012. Purchase of $45 billion in Treasury bonds since Dec. 2012. The purchase scale started to reduce in December 2013 and ended in October 2014.