EBOOK
About
Before the Great Financial Crisis of 2008–09, significant reductions in official interest rates typically proved sufficient to generate sustainable economic recoveries from downturns. However, with economies and financial markets in freefall during the crisis despite a cut in interest rates to effectively zero, policymakers in some advanced economies launched a major new tool called quantitative easing (QE). This involved central banks purchasing huge amounts of financial assets.
This book offers a thorough and perspicacious analysis of QE, which has become a recovery method of last resort. Whilst it was successful in averting another Great Depression and stimulating growth, it remains controversial and continues to promote widespread debate in economics, financial, and political-economy circles. This book is essential reading for anyone wishing to understand central banking in the national economy.
This book offers a thorough and perspicacious analysis of QE, which has become a recovery method of last resort. Whilst it was successful in averting another Great Depression and stimulating growth, it remains controversial and continues to promote widespread debate in economics, financial, and political-economy circles. This book is essential reading for anyone wishing to understand central banking in the national economy.
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Reviews
"A thorough and comprehensive analysis of the history and effects of quantitative easing."
C. A. E. Goodhart, from the Foreword
"A comprehensive and detailed analysis of what is, in terms of central banking history, still a relatively new tool in the policymaker's box. Everything you have learned and experienced over the last decade (and forgotten) on the subject of QE is covered, in detail, in this book ... I would encourage you to pick it up to refresh yourself on the details of how and why we got to where we are today .
Society of Professional Economists
Extended Details
- SeriesFinance Matters