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| 001 | 9.853458 |
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| 003 | CaOODSP |
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| 005 | 20221107154829 |
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| 007 | cr ||||||||||| |
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| 008 | 180313s2018 oncd ob f000 0 eng d |
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| 040 | |aCaOODSP|beng |
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| 041 | |aeng|bfre |
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| 043 | |ae------ |
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| 086 | 1 |aFB3-5/2018-11E-PDF |
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| 100 | 1 |aHohberger, Stefan. |
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| 245 | 14|aThe macroeconomic effects of quantitative easing in the Euro area |h[electronic resource] : |bevidence from an estimated DSGE model / |cby Stefan Hohberger, Romanos Priftis and Lukas Vogel. |
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| 260 | |a[Ottawa] : |bBank of Canada, |c2018. |
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| 300 | |aii, 47 p. : |bcol. charts. |
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| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2018-11 |
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| 500 | |a"March 2018." |
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| 504 | |aIncludes bibliographical references (p. 26-27). |
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| 520 | 3 |a“This paper estimates an open-economy dynamic stochastic general equilibrium model with Bayesian techniques to analyse the macroeconomic effects of the European Central Bank’s (ECB’s) quantitative easing (QE) programme. Using data on government debt stocks and yields across maturities, we identify the parameter governing portfolio adjustment in the private sector. Shock decompositions suggest a positive contribution of ECB QE to annual euro area output growth and inflation in 2015-16 of up to 0.3 and 0.6 percentage points (pp) in the linearised version of the model. Allowing for an occasionally binding zero-bound constraint by using piecewise linear solution techniques raises the positive impact to up to 0.7 and 0.8 pp"--Abstract, p. 2. |
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| 546 | |aIncludes abstract in French. |
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| 692 | 07|2gccst|aMonetary policy |
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| 692 | 07|2gccst|aInterest rates |
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| 693 | 4|aQuantitative easing (Monetary policy) |
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| 693 | 4|aEuropean Union |
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| 693 | 4|aEuropean Central Bank |
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| 700 | 1 |aPriftis, Romanos. |
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| 700 | 1 |aVogel, Lukas, |d1976- |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2018-11.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s1.58 MB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-11-eng.pdf |
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