Weale, Martin; Wieladek, Tomasz - 2014
We examine the impact of large-scale asset purchases of government bonds on real GDP and the CPI in the United Kingdom … real GDP and CPI are left unrestricted, so as formally to test whether these variables are affected by asset purchases. We … purchases have a statistically significant effect on real GDP with a purchase of 1% of GDP leading to a .36% (.18%) rise in real …