Bank of Canada paper finds major benefits of QE in UK and US


A working paper published by the Bank of Canada in July discusses the benefits of the Bank of England and Federal Reserve's quantitative easing (QE) measures in boosting growth and inflation while the central banks were constrained by a zero lower bound on interest rates.

The authors, Christiane Baumeister and Luca Benati, produce a time-varying parameter structural vector autoregression based on data from the global recession over the period 2007–09. The paper finds that the decline in long

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