Fifty Shades of QE: Comparing Findings of Central Bankers and Academics / Brian Fabo, Martina Jančoková, Elisabeth Kempf, Ľuboš Pástor.

Format:

Book

Author/Creator:

Fabo, Brian.

Contributor:

National Bureau of Economic Research.

Jančoková, Martina.

Kempf, Elisabeth.

Pástor, Ľuboš.

Series:

Working Paper Series (National Bureau of Economic Research) no. w27849.

NBER working paper series no. w27849

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2020.

Summary:

We compare the findings of central bank researchers and academic economists regarding the macroeconomic effects of quantitative easing (QE). We find that central bank papers find QE to be more effective than academic papers do. Central bank papers report larger effects of QE on output and inflation. They also report QE effects on output that are more significant, both statistically and economically, and they use more positive language in the abstract. Central bank researchers who report larger QE effects on output experience more favorable career outcomes. A survey of central banks reveals substantial involvement of bank management in research production.

Notes:

Print version record

September 2020.