Effects and Risks of Unconventional Monetary Policy

Stefan Homburg

Hannover Economic Papers (HEP) from Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät

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.

Keywords: Quantitative easing; European Central Bank; excess reserves; money multiplier (search for similar items in EconPapers)
JEL-codes: E51 E52 E58 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2017-03
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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http://diskussionspapiere.wiwi.uni-hannover.de/pdf_bib/dp-590.pdf (application/pdf)

Related works:
Journal Article: Effects and Risks of Unconventional Monetary Policy (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:han:dpaper:dp-590

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