IDEAS home Printed from https://ideas.repec.org/h/wsi/wschap/9781944659592_0014.html
   My bibliography  Save this book chapter

Quantitative Easing: Evaluating QE’s Impact

In: Economics Gone Astray

Author

Listed:
  • Blu Putnam

Abstract

After the 2008 financial panic, central banks in the US, UK, Europe and Japan experimented with the aggressive use of their balance sheets to stabilize their financial markets and encourage a return to higher rates of economic activity. These activities have become known as quantitative easing or QE. This research focuses mostly on balance sheet activities employed by the US Federal Reserve (Fed), and distinguishes between the initial round of quantitative easing (QE1) in late 2008 with later rounds of balance sheet activity to purchase more US Treasury securities or mortgage-backed securities (QE2 & QE3) and to adopt the maturity extension program (i.e., Operation Twist). With respect to certain ideas presented here, in a few cases we also consider European Central Bank (ECB) activities that were relevant to the discussion. [See Chapter 15 for an in-depth comparison of the effectiveness of the Fed’s QE programs versus the approach utilized by the ECB.]…

Suggested Citation

  • Blu Putnam, 2019. "Quantitative Easing: Evaluating QE’s Impact," World Scientific Book Chapters, in: Economics Gone Astray, chapter 14, pages 171-195, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9781944659592_0014
    as

    Download full text from publisher

    File URL: https://www.worldscientific.com/doi/pdf/10.1142/9781944659592_0014
    Download Restriction: Ebook Access is available upon purchase.

    File URL: https://www.worldscientific.com/doi/abs/10.1142/9781944659592_0014
    Download Restriction: Ebook Access is available upon purchase.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Economics; Macroeconomics; Monetary Policy; Fiscal Policy; Inflation; Risk Management; Federal Reserve; Quantitative Easing; Taylor Rule;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:wschap:9781944659592_0014. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscientific.com/page/worldscibooks .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.