This paper explores the economic impacts of the Bank of England's quantitative easing policy, implemented as a response to the global financial crisis. Using an open economy Dynamic Stochastic General Equilibrium (DSGE) model, we demonstrate that monetary policy can remain effective even when...

Scholars have paid so much academic attention to UPB in the past decade. However, there is lacking a quantitative review to uncover the relationship between UPB and its antecedents. To address this, we make a meta-analytic review about UPB. Specifically, we propose a theoretical framework of...