QE in the future: the central bank's balance sheet in a fiscal crisis /

Analysis of quantitative easing (QE) typically focus on the recent past studying the policy’s effectiveness during a financial crisis when nominal interest rates are zero. This paper examines instead the usefulness of QE in a future fiscal crisis, modeled as a situation where the fiscal outlook is i...

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Bibliographic Details
Main Author: Reis, Ricardo
Format: eBook
Language:English
Published: Cambridge, MA : National Bureau of Economic Research, 2016
Series:Working paper series ; 22415
Online Access:https://www.nber.org/papers/w22415.pdf

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