Former MPC member Blanchflower unconvinced by Bank’s QE paper

The results of a recent Bank of England paper on quantitative easing in the UK are not very convincing according to David Blanchflower, a former member of the Bank of England's Monetary Policy Committee (MPC) and a professor at Dartmouth College.

In the paper, the authors, Michael Joyce, Ana Lasaosa, Ibrahim Stevens and Matthew Tong, used a vector auto-regression model to estimate the impact of quantitative easing on financial markets from 4 March 2009 to 31 May 2009. They concluded that the Ban

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