Search Results - subject_exact:"Quantitative easing"

The usage of security lending facilities under unconventional monetary policy : evidence from Sweden

Blix Grimaldi, Marianna; Schneider, Fabienne; Vestin, David - 2026 - Last updated: March 6, 2026

This paper examines the interaction between quantitative easing (QE) and the securities lending facility (SLF) using a detailed dataset on Riksbank QE purchases, Swedish DMO SLF transactions and OTC repo deals. A theoretical model further shows how excess demand for assets and search frictions...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015612289

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The usage of security lending facilities under unconventional monetary policy : evidence from Sweden

Blix Grimaldi, Marianna; Schneider, Fabienne; Vestin, David - 2026

Book / Working Paper

Open-ended treasury purchases : from market functioning to financial easing

D'Amico, Stefania; Gillet, Max; Schulhofer-Wohl, Sam; … - 2026

We assess whether the Fed's asset purchases can be tailored to either restore market functioning or provide economic stimulus. When the communicated goal is restoring market functioning and purchases' implementation is flexible, flow effects are significant: relative price deviations narrow....

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614721

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Open-ended treasury purchases : from market functioning to financial easing

D'Amico, Stefania; Gillet, Max; Schulhofer-Wohl, Sam; … - 2024

Book / Working Paper

Central bank reserves and banks' portfolio rebalancing in the euro area

Lampousis, Athanasios; Migiakis, Petros - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015665282

Quantitative easing and the functioning of the gilt repo market

Fatouh, Mahmoud; Giansante, Simone; Ongena, Steven - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015324489

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Quantitative easing and the functioning of the gilt repo market

Fatouh, Mahmoud; Giansante, Simone; Ongena, Steven - 2024

Book / Working Paper

Unconventional monetary policies in small open economies

Kolasa, Marcin; Laséen, Stefan; Lindé, Jesper - 2025

This paper provides a comprehensive assessment of the macroeconomic and fiscal impact of unconventional monetary tools in small open economies. Using a DSGE model, we show that the exchange rate plays a critical role to amplify the favourable impact of unconventional monetary policy while it...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015372063

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Unconventional monetary policies in small open economies

Kolasa, Marcin; Laséen, Stefan; Lindé, Jesper - 2025

Book / Working Paper

Quantitative easing, banks' funding costs, and credit line prices

Cerrato, Mario; Mei, Shengfeng - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015337859

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Quantitative easing, banks' funding costs and credit line prices

Cerrato, Mario; Mei, Shengfeng - 2024

Book / Working Paper

Quantitative easing and preferred habitat investors in the euro area bond market

Boermans, Martijn; Carrera de Souza, Tomás; Vermeulen, … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015190355

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Quantitative easing and preferred habitat investors in the euro area bond market

Boermans, Martijn; Vermeulen, Robert - 2018

Book / Working Paper

Monetary policy, property prices and rents : evidence from local housing markets

Groiss, Martin; Syrichas, Nicolas - 2025

How do different monetary policy tools influence residential housing markets, and how do these effects vary between owner-occupied and rental segments? To answer this question, we assemble a new monthly regional dataset from 35 million real estate listings over the period 2007- 2023 and exploit...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015178380

When banks hold back : credit and liquidity provision

Altavilla, Carlo; Rostagno, Massimo; Schumacher, Julian - 2025

Banks are reluctant to tap central bank backup liquidity facilities and use the borrowed funds for loans to the real economy. We show that excessively parsimonious borrowing and lending can arise in a stigma-free model where the banking sector has an incentive to overissue deposits. Banks don't...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015179817

Monetary expansionism, global commodity prices, and global inequality

Kim, Jongchul - 2025

An early analysis of the imperialist implications of the surge of global commodity prices was conducted in 2014 by Jonathan Nitzan and Shimshon Bichler. However, their analysis did not consider how the US monetary and fiscal expansionist policies have contributed to the rise of global commodity...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015393665

The interest rate effects of government debt maturity : solving the bond conundrum

Chadha, Jagjit; Turner, Philip; Zampolli, Fabrizio - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015468200

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The interest rate effects of government debt maturity : solving the bond conundrum

Chadha, Jagjit; Turner, Philip; Zampolli, Fabrizio - 2025

Book / Working Paper

How do quantitative easing and tightening affect firms?

Eren, Egemen; Gorea, Denis; Zhai, Daojing - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015448722

How much capital do central banks really have?

Honohan, Patrick - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015450753

Unconventional monetary policy spillovers and the (in)convenience of treasuries

Stedman, Karlye Dilts; Hanson, Andrew - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015451392

The house price channel of quantitative easing

Seidl, Hannah Magdalena - 2025

I study the transmission mechanism of Quantitative Easing (QE) in the form of large-scale asset purchases in the mortgage market to aggregate consumption. To this end, I develop a New Keynesian model that features heterogeneous households, a microfounded housing market, and frictional...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015451846

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The house price channel of quantitative easing

Seidl, Hannah Magdalena - 2025

Book / Working Paper

QE, bank liquidity risk management, and non-bank funding : evidence from U.S. administrative data

Darst, R. Matthew; Kokas, Sotirios; Kontonikas, Alexandros - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015406780

Fiscal-monetary policy mix : challenges facing the EU

Gnan, Ernest; Holzmann, Robert - 2025

Starting from the Tinbergen principle and four areas of economic policy, we argue that in practice economic policies each have multiple effects, rendering a clear and simple allocation of objectives and instruments to different policies and their responsible institutions complex. First, the case...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410549

On the weak impact of base money on broad money in the context of unconventional monetary policy : Euro Area 2008-2024

Pateiro-Rodríguez, Carlos; Martín-Bermúdez, Federico; … - 2025

In its response to the economic and financial crises of 2008, the sovereign debt and euro crisis of 2010-2015, and the COVID-19 pandemic of 2020-2023, the European Central Bank (ECB) implemented an unconventional monetary policy aimed at providing liquidity for more than a decade, through a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410871

Enacting efficient markets : the performativity of quantitative easing

Cassar, Dylan - 2025

Quantitative easing (QE) has been a favourite tool of central banks in their post-financial crisis monetary policy apparatus. Social science literature has interpreted QE as a shift away from performative governance characterising pre-crisis monetary policy. With reference to the Bank of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015413111

The local supply effect of asset purchases : evidence from the Eurosystem’s CSPP

Haes, Casper de; Hudepohl, Tom; Kakes, Jan - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015413402

Bank profitability in times of quantitative easing : the role of Central Bank transparency

Koukouridis, Athanasios - 2025

To stabilize economies, central banks implemented unconventional monetary policies like quantitative easing following the global financial crisis. Although much research has been done on how quantitative easing affects financial markets, the influence of central bank transparency on bank...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015439376

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Bank profitability in times of quantitative easing: The role of Central Bank transparency

Koukouridis, Athanasios - 2025

Article

Central banks fuelling inequality : a comparative case study of Japan's unconventional monetary policy 1999-2006

Uhl, Moritz - 2025

Reoccurring instability keeps forcing central banks repeatedly to intervene in financial markets, since the 2007-2008 crisis most notably with massive asset purchases, whose popularisation was spearheaded by the Bank of Japan. This paper exploits the world's first implementation of quantitative...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015395750

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Central banks fuelling inequality: A comparative case study of Japan's unconventional monetary policy 1999-2006

Uhl, Moritz - 2025

Book / Working Paper

Balance sheet policies and Central Bank losses in a HANK model

Labrousse, Charles; Perdereau, Yann - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015396962

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Balance sheet policies and Central Bank losses in a HANK model

Labrousse, Charles; Perdereau, Yann - 2024

Book / Working Paper

Voluntary disclosures and monetary policy : evidence from quantitative easing

Vincenzi, Roberto - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015533154

The impossible trinity in economic and monetary union : how to solve it

Iancu, Aurel - 2025

This article is focusing on the economic literature attempting to solve the problem of the impossible trilemmas of the euro area, by reconciling the relations between the three essential pillars - supranational monetary independence, national fiscal independence and the no bail-out clause...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015559168

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The impossible trinity in economic and monetary union: How to solve it

Iancu, Aurel - 2025

Book / Working Paper

The impact of sovereign debt purchase programmes : a case study ; the Spanish-to-Portuguese bond yield spread

Cerezo, Fernando; Girón, Pablo; González-Pérez, María T. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014583724

The effect of the European central bank’s asset purchase programmes on Spain’s public finances

Aguilar, Pablo A.; Alloza, Mario; Costain, James; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014632117

Central bank exit strategies : domestic transmission and international spillovers

Erceg, Christopher J.; Kolasa, Marcin; Lindé, Jesper; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014534914

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Central bank exit strategies : domestic transmission and international spillovers

Erceg, Christopher J.; Kolasa, Marcin; Lindé, Jesper; … - 2024 - This version: April 3, 2024

Edition: This version: April 3, 2024

Book / Working Paper

Did the Bank of England's quantitative easing programme become fiscally wasteful?

Bleaney, Michael F. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015100993

The term structure of interest rates in a heterogeneous monetary union

Costain, James; Nuño, Galo; Thomas, Carlos - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014463881

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The term structure of interest rates in a heterogeneous monetary union

Costain, James; Nuño, Galo; Thomas, Carlos - 2024

Book / Working Paper

The term structure of interest rates in a heterogeneous Monetary Union

Costain, James; Nuño, Galo; Thomas, Carlos - 2022

Book / Working Paper

The term structure of interest rates in a heterogeneous monetary union

Costain, James; Nuño, Galo; Thomas, Carlos - 2022

Book / Working Paper

Does it matter if the Fed goes conventional or unconventional?

Kolasa, Marcin; Wesołowski, Grzegorz - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014448313

Stabiliztion policy options in a "lower and longer" (l&l) interest rates environment

Nachane, Dilip M. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014519225

Mixing QE and interest rate policies at the effective lower bound : micro evidence from the euro area

Bittner, Christian; Rodnyansky, Alexander; Saidi, Farzad; … - 2024

We study the interaction of expansionary rate-based monetary policy and quantitative easing, despite their concurrent implementation, by exploiting heterogeneous banks and the introduction of negative monetary-policy rates in a fragmented euro area. Quantitative easing increases credit supply...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014520834

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Mixing QE and interest rate policies at the effective lower bound : micro evidence from the Euro Area

Bittner, Christian; Rodnyansky, Alexander; Saidi, Farzad; … - 2023

Book / Working Paper

Mixing QE and interest rate policies at the effective lower bound : micro evidence from the euro area

Bittner, Christian; Rodnyansky, Alexander; Saidi, Farzad; … - 2021 - First version: June 15, 2021, this version: October 12, 2021

Edition: First version: June 15, 2021, this version: October 12, 2021

Book / Working Paper

Seismic shifts in economic theory and policy : from the Bernanke Doctrine to Modern Money Theory

Tcherneva, Pavlina R.; Tymoigne, Éric - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015195211

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Seismic shifts in economic theory and policy : from the Bernanke Doctrine to Modern Money Theory

Tcherneva, Pavlina R.; Tymoigne, Éric - 2024

Book / Working Paper

Beyond fragmentation : unraveling the drivers of yield divergence in the euro area

Aguilar, Alicia - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015158318

The impact of ECB’s Quantitative Easing on cryptocurrency markets during times of crisis

Aloui, Donia; Zouaoui, Riadh; Rachdi, Houssem; Guesmi, … - 2024

In this paper, we investigate non-linear linkages between Bitcoin and the unconventional monetary policies of the European Central Bank (ECB). In particular, we examine whether a low-interest rate environment resulting from QE indirectly encourages investors to move towards Bitcoin. Using a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015052228

Quantitative easing and correlation dynamics in the aftermath of the Great Recession : a dynamic conditional correlation with exogenous variables approach

Horra, Luis P. de la; Gabriel, Amadeus; Giménez Roche, … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015133124

The adverse consequences of quantitative easing (QE) : international capital flows and corporate debt growth in China

Maiani, Stefano; Lamla, Michael; Wood, Geoffrey T.; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015357684

The dysfunctional taboo : monetary financing at the Bank of England, the Federal Reserve, and the European Central Bank

Bateman, Will; Klooster, Jens van 't - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015053648

Pitfalls of quantitative easing effect on the EMU economic growth : searching for turning points

Šuliková, Veronika; Siničáková, Marianna; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015426467

Central bank losses and commercial bank profits : unexpected and unfair?

Jost, Thomas; Mink, Reimund - 2024

The Eurosystem and the Deutsche Bundesbank will incur substantial losses in 2023 that are likely to persist for several years. Due to the massive purchases of securities in the last 10 years, especially of government bonds, the banks' excess reserves have risen sharply. The resulting high...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014475914

Quantitative easing effectiveness : evidence from Euro private assets

Kirikos, Dimitris G. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014543807

A large open economy model to assess macroeconomic policy performance in Japan

McNelis, Paul D. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014543873

Quantitative easing and inequality

Lee, Donggyu - 2024

This paper studies how quantitative easing (QE) affects household welfare across the wealth distribution. I build a Heterogeneous Agent New Keynesian (HANK) model with household portfolio choice, wage and price rigidities, endogenous unemployment, frictional financial intermediation, an...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014577973

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Quantitative easing and inequality

Lee, Donggyu - 2024

Book / Working Paper

The quantity theory of money, quantitative easing and the missing inflation phenomenon

Moosa, Imad A.; Al-Saad, Khalid; Khatatbeh, Ibrahim N. - 2024

Several explanations have been put forward for the observation that massive inflation has not appeared as a result of the explosive monetary growth generated by quantitative easing that was in 2008. Several plausible explanations have been put forward for this observation, but none of them can...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014581554

The neglected contributions of R.G.Hawtrey to macroeconomics

Nachane, Dilip M. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014557701

The spillovers of LSAPs on banks in the euro area

Graziano, Marco; Koechlin, Marius; Tischbirek, Andreas - 2026

We study the spillovers of large-scale asset purchases (LSAPs) in the U.S. on financial intermediation in the euro area using bank-level supervisory data and high-frequency identified policy surprises. Our detailed panel data permit us to trace the impact of LSAPs through bank balance sheets. We...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015592007

Renewable energy sector and energy transition in G-10 countries : Role of price, quantity and outcome based monetary policy

Anser, Muhammad Khalid; Hassan, Dua; Tufail, Saira; … - 2026

The global transition toward renewable energy is vital for achieving climate goals and strengthening energy security. The primary objective of the study is to examine the impact of different stances of monetary policy, namely price-based, quantity-based, and outcome-based monetary policy, on...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015604113

Payment needs and the size of the Federal Reserve's balance sheet

Reis, Ricardo - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015626901

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Payment needs and the size of the federal reserve's balance sheet

Reis, Ricardo - 2026

Book / Working Paper

The real estate channel of unconventional monetary policy

Honda, Tomohito; Shimizu, Chihiro; Uesugi, Iichiro - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641478