Krenz, Johanna; Tsiaras, Stylianos - 2024
, inflation and unemployment in all euro area countries. We document that the effects of QE are very heterogenous across countries … as regards size, significance and timing, especially with respect to GDP and unemployment. Exploiting the panel structure …-constrained households in a country. The latter result seems to be driven by the general equilibrium impact of QE on unemployment. …