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- Title
Assessing the economy-wide effects of quantitative easing.
- Authors
Kapetanios, George; Mumtaz, Haroon; Stevens, Ibrahim; Theodoridis, Konstantinos
- Abstract
The article presents a study which assesses the macroeconomic impact of the Monetary Policy Committee's (MPC) quantitative easing (QE) policy from March 2009 to January 2010. It states that vector autoregressions (VARs) are used to construct conditional forecasts for real gross domestic product (GDP) and consumer price indexes (CPI) inflation. It notes that the QE programme helped in preventing the real GDP to fall even more in 2009 and prevented inflation to reach low or negative levels.
- Subjects
MACROECONOMICS; MONETARY policy; GROSS domestic product; CONSUMER price indexes; PRICE inflation; VECTOR autoregression model
- Publication
Bank of England Quarterly Bulletin, 2012, Vol 52, Issue 1, p71
- ISSN
0005-5166
- Publication type
Article