The Impact of QE on the UK Economy – Some Supportive Monetarist Arithmetic

Author:

Bridges Jonathan,Thomas Ryland

Publisher

Elsevier BV

Reference32 articles.

1. Each swathe contains a total of nine responses: alongside the preferred sectoral specifcation, each variant discussed in Section 4.5 is included: the delayed asset price adjustment case, the variable bank lending case, the weaker consumption response case and the stronger investment response case. We also account for uncertainty over the initial asset price impact in the sectoral model by including both the greater and lesser responsiveness cases discussed in Section 4.3 and Chart 13. Finally, the responses from the aggregate model (with and without a policy and exchange rate response);Note: All responses shown are to the central case QE money supply shock of �122 billion

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