Benigno, Pierpaolo; Canofari, Paolo; Di Bartolomeo, Giovanni; Messori, Marcello (2022). The ECB's asset purchase programme: Theory, effects, and risks. Journal of economic surveys, 37(3), pp. 890-914. Wiley 10.1111/joes.12521
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Journal_of_Economic_Surveys_-_2022_-_Benigno_-_The_ECB_s_asset_purchase_programme_Theory_effects_and_risks.pdf - Published Version Available under License Creative Commons: Attribution (CC-BY). Download (1MB) | Preview |
In response to the Covid-19 crisis, the European Central Bank (ECB) has relaunched a massive asset purchase programme within its combined-arms monetary strategy. This paper surveys and discusses the theory and the evidence of the central bank's unconventional monetary tools for the euro area. It analyses the role of the asset purchase programmes in the ECB's toolkit and the associated risks, focusing specifically on the gradual unwinding of these unconventional initiatives. Finally, the paper offers some insight into the possible evolution of the ECB's monetary policy.
Item Type: |
Journal Article (Original Article) |
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Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Benigno, Pierpaolo |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0950-0804 |
Publisher: |
Wiley |
Language: |
English |
Submitter: |
Julia Alexandra Schlosser |
Date Deposited: |
26 Oct 2022 06:53 |
Last Modified: |
18 Jun 2023 02:09 |
Publisher DOI: |
10.1111/joes.12521 |
BORIS DOI: |
10.48350/174103 |
URI: |
https://boris.unibe.ch/id/eprint/174103 |
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