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...
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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