- Tytuł:
- Does the Way of Financing Quantitative Easing Programmes Matter?
- Autorzy:
- Duszak, Anna
- Powiązania:
- https://bibliotekanauki.pl/articles/2076257.pdf
- Data publikacji:
- 2018
- Wydawca:
- Polska Akademia Nauk. Czytelnia Czasopism PAN
- Tematy:
-
quantitative easing
unconventional monetary policy
Ricardian equivalence - Opis:
- This paper applies a DSGE model to find whether the way of financing QE2 matters for the reaction of the economy. The model includes a segmented bond market structure, thus the large-scale asset purchases may successfully influence the economy. It is shown that the effects on macroeconomic variables are very similar regardless of whether the government finances the purchases by lump-sum taxes or by short-term debt which signifies that the quantitative deviation from Ricardian equivalence introduced by bond market segmentation is insignificant. The redistribution effects caused by financing are noticeable.
- Źródło:
-
Central European Journal of Economic Modelling and Econometrics; 2018, 2; 101-131
2080-0886
2080-119X - Pojawia się w:
- Central European Journal of Economic Modelling and Econometrics
- Dostawca treści:
- Biblioteka Nauki
Artykuł