Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/172844
Authors: 
Homburg, Stefan
Year of Publication: 
2017
Series/Report no.: 
Hannover Economic Papers (HEP) 590
Abstract: 
During and after the Great Recession, the European Central Bank adopted unconventional monetary policies that are more or less uncontroversial in the literature. By contrast, its quantitative easing (QE) program that started in 2015 is highly disputed. The article evaluates the pros and cons of such a policy.
Subjects: 
Quantitative easing
European Central Bank
excess reserves
money multiplier
JEL: 
E51
E52
E58
Document Type: 
Working Paper

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