Gagnon, Joseph E.; Bayoumi, Tamim A.; Londono, Juan M.; … - 2017
that official purchases of foreign assets have a large positive effect on a country's current account that diminishes …. Official purchases of domestic assets, or quantitative easing (QE), appear to have no significant effect on a country's current … account when capital mobility is high, but there is a modest positive impact when capital mobility is low. The effects of …