The effects and risks of quantitative easing

Paul Mortimer-Lee

Journal of Risk Management in Financial Institutions, 2012, vol. 5, issue 4, 372-389

Abstract: Quantitative easing (QE) comes in many forms, each tailored to the specific needs of the region in question. What they all have in common, though, is that they are the result of the failure of conventional policy to deliver the outcomes policymakers want. There are many risks associated with unconventional tools such as QE and a number of drawbacks. But central banks around the world have taken risks with the future in a bid to avoid adverse consequences today or tomorrow. They hope that by the time QE draws to an end, they, the markets, the financial system and the wider economy will be able to manage those risks effectively. Whether they can remains to be seen.

Keywords: quantitative easing; monetary policy; Federal Reserve; European Central Bank; Bank of England; Bank of Japan; financial crisis (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2012
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