IMF research uncovers ‘puzzling’ effect of QE on the current account

Bruno Sanchez-Andrade Nuño

Research published by the International Monetary Fund has uncovered “somewhat puzzling” findings when investigating the impact of unconventional policies on a country’s current account balance.

In their paper, Direct and spillover effects of unconventional monetary and exchange rate policies, the authors develop a macro-economic model to quantify the effects of unconventional monetary policy both at home and abroad.

Authors Christian Saborowski, Horacio Sapriza, Joseph Gagnon, Juan Londono and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account