What was once heresy is today banality: Now that nearly every central bank either has undertaken or is pursuing quantitative easing (QE), it is probably time to retire the phrase “unconventional monetary policy” to describe it. Marco Lo Duca, Giulio Nicoletti and Ariadna Vidal Martinez, economists at the European Central Bank, show how the brainstorms and experiments of academics and central bankers affect the real world, particularly in the aftermath of the 2008 financial crisis. getAbstract recommends this informative analysis of the Federal Reserve’s QE policies and their effects on corporate bond issuance around the world.
About the Authors
Marco Lo Duca, Giulio Nicoletti and Ariadna Vidal Martinez are European Central Bank economists.