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Ten years later – Did QE work?

Author

Listed:
  • Stephan Luck
  • Thomas Zimmermann

Abstract

By November 2008, the Global Financial Crisis, which originated in the residential housing market and the shadow banking system, had begun to turn into a major recession, spurring the Federal Open Market Committee (FOMC) to initiate what we now refer to as quantitative easing (QE). In this blog post, we draw upon the empirical findings of post-crisis academic research's including our own work's to shed light on the question: Did QE work?

Suggested Citation

  • Stephan Luck & Thomas Zimmermann, 2019. "Ten years later – Did QE work?," Liberty Street Economics 20190508, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednls:87330
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    File URL: https://libertystreeteconomics.newyorkfed.org/2019/05/ten-years-laterdid-qe-work.html
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    More about this item

    Keywords

    LSAPS; employment; monetary policy; real effect; QE;

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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