policies and the subsequent announcements because the initial steps were often seen as bad news about the state of the economy … economy and easing the pressure on governmental finances. Across all subsets of polices, it seems that monetary policy is more …

the euro area economy and examine, using the ECB's New Area-Wide Model, the consequences of the lower bound both for the …

purchases have similar effects on the real economy under monetary and fiscal dominance, wealth effects yield a qualitatively …. The longer the average maturity, the more volatile is the transmission of quantitative easing to the real economy. …