Quantitative Easing and Macroeconomic Performance in the United States

Inda Mulaahmetović ()
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Inda Mulaahmetović: PhD Candidate in Management, International Burch University, Sarajevo, Bosnia and Herzegovina

Journal of Central Banking Theory and Practice, 2022, vol. 11, issue 3, 79-98

Abstract: This scientific paper examines the relationship between macroeconomic variables whose performance is measured under the implementation of Quantitative Easing in the US, by estimating vector autoregression (VAR) and Impulse Response Function with monthly data from US Federal Reserve, observed during the period January 1994-January 2022. Variables include: Consumer Price Index (CPIAUCSL); Industrial Production (INDPRO); Unemployment Rate (UNRATE); Interest Rates, Government Securities, Government Bonds (INTGSBUSM193N); Volatility Index (VIXCLS), Real Broad Effective Exchange Rate (RBUSBIS), Federal Surplus or Deficit (MTSDS133FMS), Money Supply M1 (WM1NS), M2 (WMNS), M3 (MABMM301USM189S). An evidence on macroeconomic variables of Consumer Price Index and Industrial Production when evaluating the effectiveness of QE is provided.

Keywords: Quantitative Easing; US Federal Reserve; VAR; Impulse Response Function. (search for similar items in EconPapers)
JEL-codes: E52 E65 F00 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:cbk:journl:v:11:y:2022:i:3:p:79-98

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