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A Global Monetary PlagueHow Fed Quantitative Easing Spread Asset Price Inflation Globally

A Global Monetary Plague: How Fed Quantitative Easing Spread Asset Price Inflation Globally [Superficially, when we look at the monetary history of the years following the Great Panic and Recession, it seems that many countries, not just the US, were conducting big monetary experiments, where these involved deployment of non-conventional monetary tools, sometimes including so-called quantitative easing (QE). In fact, some economists including central bank officials have done a cross-sectional analysis on these experiments so as to refine their judgements about the effectiveness of QE in particular (see Gambacorta, 2014). Yet in reality, the experiments have not been independent of each other. The Obama Great Monetary Experiment (GME) plays a dominant role in determining the course and outcomes of all the other experiments.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Global Monetary PlagueHow Fed Quantitative Easing Spread Asset Price Inflation Globally

Brown, Brendan
Springer Journals — Dec 3, 2015
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33 pages

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Publisher
Palgrave Macmillan UK
Copyright
© The Editor(s) (if applicable) and The Author(s) 2015
ISBN
978-1-349-55236-8
Pages
39 –72
DOI
10.1057/9781137478856_3
Publisher site
See Chapter on Publisher Site

Abstract

[Superficially, when we look at the monetary history of the years following the Great Panic and Recession, it seems that many countries, not just the US, were conducting big monetary experiments, where these involved deployment of non-conventional monetary tools, sometimes including so-called quantitative easing (QE). In fact, some economists including central bank officials have done a cross-sectional analysis on these experiments so as to refine their judgements about the effectiveness of QE in particular (see Gambacorta, 2014). Yet in reality, the experiments have not been independent of each other. The Obama Great Monetary Experiment (GME) plays a dominant role in determining the course and outcomes of all the other experiments.]

Published: Dec 3, 2015

Keywords: Interest Rate; Real Estate; Monetary Policy; Central Bank; Federal Reserve

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