Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/237723 
Year of Publication: 
2021
Series/Report no.: 
ECB Working Paper No. 2584
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
We compare the findings of central bank researchers and academic economists regarding the macroeconomic effects of quantitative easing (QE). We find that central bank papers find QE to be more effective than academic papers do. Central bank papers report larger effects of QE on output and in ation. They also report QE effects on output that are more significant, both statistically and economically, and they use more positive language in the abstract. Central bank researchers who report larger QE effects on output experience more favorable career outcomes. A survey of central banks reveals substantial involvement of bank management in research production.
Subjects: 
economic research
quantitative easing
QE
central bank
career concerns
JEL: 
A11
E52
E58
G28
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-4807-4
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.