Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia

Udara Peiris and Herakles Polemarchakis
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Herakles Polemarchakis: Department of Economics, University of Warwick

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

Abstract: Explicit targets for the composition of assets traded by governments are necessary for fiscal-monetary policy to determine the stochastic paths of inflation or exchange rates; this is the case even if fiscal policy is non-Ricardian.Targets obtain with the traditional conduct of monetary policy and Credit Easing, but not with inconventional policy and Quantitative Easing. The composition of the portfolios traded by monetary-fiscal authorities determines premia in asset and currency markets

Keywords: quantitative easing; exchange rates (search for similar items in EconPapers)
JEL-codes: E50 F41 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-ifn, nep-mac, nep-mon and nep-opm
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Citations: View citations in EconPapers (1)

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Working Paper: Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:1094

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