Quantitative Easing: Evolution of economic thinking as it happened on Vox

Wouter den Haan

19 January 2016

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Foreword

Introduction
Wouter J. Den Haan

Part I: The economics behind quantitative easing

1 The new global balance – Part II: Higher rates rather than weaker dollar in 2010
Eduardo Levy Yeyati, Piero Ghezzi and Christian Broda

2 The economic impact of QE: Lessons from the UK
Michael A S Joyce, Matthew R Tong and Robert Woods

3 Using changes in auction maturity sectors to help identify the impact of QE on gilt yields
Ryan Banerjee, Sebastiano Daros, David Latto and Nick McLaren

4 What are the macroeconomic effects of asset purchases? 
Martin Weale and Tomasz Wieladek

5 The impact of the maturity of US government debt on forward rates and the term premium: New results from old data
Jagjit Chadha

6 Quantifying the macroeconomic effects of large-scale asset purchases
Karl Walentin

7 Institutional investor investment behaviour during the Crisis and the portfolio balance effect of QE
Michael A S Joyce, Zhuoshi Liu and Ian Tonks

8 Identifying and quantifying monetary policy transmission through bank balance sheets
Kaoru Hosono and Daisuke Miyakawa

9 New thinking on the transmission of QE to long-term yields
Jens Christensen and Signe Krogstrup

Part II: Risks and criticisms

10 Lost in transmission
Heleen Mees

11 QED: QE3
Marco Annunziata

12 Unconventional monetary policies revisited (Part I)
Biagio Bossone

13 Unconventional monetary policies revisited (Part II)
Biagio Bossone

14 Why is euro inflation so low?
Jean-Pierre Landau

15 Deflation, debt, and economic stimulus
Richard Wood

16 Fiscal dimensions of central banking: The fiscal vacuum at the heart of the Eurosystem and the fiscal abuse by and of the Fed: Part 2
Willem Buiter

17 Fiscal dimensions of central banking: the fiscal vacuum at the heart of the Eurosystem and the fiscal abuse by and of the Fed: Part 4
Willem Buiter

18 Quantitative easing: Who’s backing currency?
Pierpaolo Benigno and Salvatore Nisticò

Part III: Quantitative easing in the Eurozone

19 Considering QE, Mario? Buy US bonds, not Eurobonds
Jeffrey Frankel

20 Combatting Eurozone deflation: QE for the people
John Muellbauer

21 ECB: An appropriate monetary policy
Mickey Levy

22 Is the ECB doing QE?
Charles Wyplosz

23 QE, ‘European style’: Be bold but parsimonious
Urszula Szczerbowicz and Natacha Valla

24 Quantitative easing in the Eurozone: It’s possible without fiscal transfers
Paul De Grauwe and Yuemei Ji

25 The ECB’s QE decision
Marco Annunziata

26 Effective Eurozone QE: Size matters more than risk-sharing
Francesco Giavazzi and Guido Tabellini

27 Risk-sharing and the effectiveness of the ECB’s quantitative easing programme
Angus Armstrong, Francesco Caselli, Jagjit Chadha and Wouter den Haan

Part IV: Exit from quantitative easing

28 Unwinding quantitative easing
Stephen Grenville

29 Unconventional monetary policy normalisation and emerging-market capital flows
Andrew Burns, Mizuho Kida, Jamus Lim, Sanket Mohapatra, and Marc Stocker

30 How inertial is monetary policy? Implications for the Fed’s exit strategy
Yuriy Gorodnichenko and Olivier Coibion

Events