Quantitative easing

• Autor(es): Faustino, Rui Alexandre Rodrigues Veloso
• Data: 2012
• Identificador Persistente: http://hdl.handle.net/10362/9552
• Origem: Repositório Institucional da UNL
• Assunto(s): Quantitative easing; Zero lower bound; Credit policy; Balance sheet
• Tipo de Documento: Dissertação de mestrado
• Idioma: Inglês
• Orientador(es): Silva, André Castro
• Contribuidor(es): RUN

Descrição

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.