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

CRETA Online Discussion Paper Series from Centre for Research in Economic Theory and its Applications CRETA

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 Key words: quantitative easing ; exchange rates JEL classification numbers: E50 ; F41.

Date: 2015
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-opm
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Citations: View citations in EconPapers (7)

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https://warwick.ac.uk/fac/soc/economics/research/c ... _an_open_economy.pdf

Related works:
Working Paper: Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia (2015)
Working Paper: Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia (2015)
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