Gertler and Karadi (2012) A framework to study QE英文资料.pdfVIP

QE 1 vs. 2 vs. 3... A Framework for Analyzing Large Scale Asset Purchases as a * Monetary Policy Tool Mark Gertler and Peter Karadi NYU and ECB March 2012 Abstract We introduce large scale asset purchases (LSAPs) as a monetary policy tool within a macroeconomic model. We allow for purchases of both long term government bon