Quantitative easing

• Author(s): Faustino, Rui Alexandre Rodrigues Veloso
• Date: 2012
• Persistent ID: http://hdl.handle.net/10362/9552
• Origin: Repositório Institucional da UNL
• Subject(s): Quantitative easing; Zero lower bound; Credit policy; Balance sheet
• Document Type: Master thesis
• Language: English
• Advisor(s): Silva, André Castro
• Contributor(s): RUN

Description

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics

Since November 2008, the Federal Reserve of the United States pursued a series of large-scale asset purchases, known as Quantitative Easing. In this Work Project, I describe the context, the objectives and the implementation of the Quantitative Easing. Additionally, I discuss its expected effects. Finally, I present empirical evidence of the effects on interest rates, output and inflation. I conclude that the first round of purchases was effective on preventing deflation and depression while the second had a small impact on economy.