Quantitative easing doesn’t work: Woodford
Quantitative easing (QE) programme is ineffective, but targeted asset purchases by a central bank can work when financial markets are sufficiently disrupted, research co-authored by one of the most respected monetary economists in the world has said.
In a National Bureau of Economic Research paper, published on Monday, Michael Woodford, a professor at Columbia University and the author of one of the seminal texts on monetary policy, and Vasco Curdia, a researcher at the New York Federal Reserve
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