How Fed Quantitative Easing Spread Asset Price Inflation Globally

Brendan Brown

Chapter 2 in A Global Monetary Plague, 2015, pp 39-72 from Palgrave Macmillan

Abstract: Abstract Superficially, when we look at the monetary history of the years following the Great Panic and Recession, it seems that many countries, not just the US, were conducting big monetary experiments, where these involved deployment of non-conventional monetary tools, sometimes including so-called quantitative easing (QE). In fact, some economists including central bank officials have done a cross-sectional analysis on these experiments so as to refine their judgements about the effectiveness of QE in particular (see Gambacorta, 2014). Yet in reality, the experiments have not been independent of each other. The Obama Great Monetary Experiment (GME) plays a dominant role in determining the course and outcomes of all the other experiments.

Keywords: Interest Rate; Real Estate; Monetary Policy; Central Bank; Federal Reserve (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-47885-6_3

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DOI: 10.1057/9781137478856_3

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