Quantitative easing operations as an instrument of monetary policy-Reference-Cited by-同舟云学术

Quantitative easing operations as an instrument of monetary policy

Published:2018-05-28 Issue:5 Volume: Page:129-138
ISSN:0042-8736
Container-title:Voprosy Ekonomiki
language:
Short-container-title:Vopr. èkon.

Author:

Usoskin V. М.¹

Affiliation:

1. Primakov National Research Institute of World Economy and International Relations, RAS; Russian Presidential Academy of National Economy and Public Administration

Abstract

Quantitative easing operations (QE) carried out during the last ten years by world central banks have become a reaction to the weakness of traditional instruments used to counteract the financial crisis of 2007-2009 and the following recession. This article reviews the peculiar features of QE, theoretical explanations of their influence on economic situation and the evidences of their efficiency as an instrument of monetary policy. The author concludes that QE exerted a considerable impact on financial markets processes but they were much less successful in reaching macroeconomic goals of monetary policy.

Publisher

NP Voprosy Ekonomiki

Subject

Economics and Econometrics,Finance

Reference23 articles.

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4. Benford J., Berry S., Nikolov K., Robson M., Young C. (2009). Quantitative easing. Bank of England Quarterly Bulletin, Vol. 49, No. 2, pp. 90-100.

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