QUANTITATIVE EASING AND UNCONVENTIONAL MONETARY POLICY - AN INTRODUCTION

• 成果类型: Article
• 署名作者: Joyce, Michael; Miles, David; Scott, Andrew; Vayanos, Dimitri
• 署名单位: Bank of England; University of London; London School Economics & Political Science
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/j.1468-0297.2012.02551.x
• 发表日期: 2012
• 页码: F271-F288
• 关键词: asset purchase programs; interest-rates; MARKET

摘要

This article assesses the impact of Quantitative Easing and other unconventional monetary policies followed by central banks in the wake of the financial crisis that began in 2007. We consider the implications of theoretical models for the effectiveness of asset purchases and look at the evidence from a range of empirical studies. We also provide an overview of the contributions of the other articles in this Feature.