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Quantitative easing
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Orientador(es)
Resumo(s)
Since November 2008, the Federal Reserve of the United States pursued a series of large-scale asset purchases, known as Quantitative Easing. In this Work Project, I describe the context, the objectives and the implementation of the Quantitative Easing. Additionally, I discuss its expected effects. Finally, I present empirical evidence of the effects on interest rates, output and inflation. I conclude that the first round of purchases was effective on preventing deflation and depression while the second had a small impact on economy.
Descrição
A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics
Palavras-chave
Quantitative easing Zero lower bound Credit policy Balance sheet