Effects of Accommodative Monetary Policy on Crowd Out Before and After Quantitative Easing. Does “Pushing on a String” Occur?

John Heim

Chapter Chapter 19 in Why Fiscal Stimulus Programs Fail, Volume 2, 2021, pp 449-450 from Springer

Abstract: Abstract This chapter looks at the effect of Federal Reserve purchases of securities before and after the start of the Quantitative Easing program. It chapter concludes that while purchases during the early QE years were, for the first time large enough to fully offset crowd out, they were excessively large and caused a measurable “pushing on a string” problem.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-64727-8_19

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DOI: 10.1007/978-3-030-64727-8_19

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