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Ten years later – Did QE work?

Thomas Zimmermann and Stephan Luck

No 20190508, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: By November 2008, the Global Financial Crisis, which originated in the residential housing market and the shadow banking system, had begun to turn into a major recession, spurring the Federal Open Market Committee (FOMC) to initiate what we now refer to as quantitative easing (QE). In this blog post, we draw upon the empirical findings of post-crisis academic research's including our own work's to shed light on the question: Did QE work?

Keywords: LSAPS; employment; monetary policy; real effect; QE (search for similar items in EconPapers)
JEL-codes: G1 G18 (search for similar items in EconPapers)
Date: 2019-05-08
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