Raab, Carolin; König, Philipp; Bernoth, Kerstin - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2015
In the face of interest rates having hit their zero lower bound in major economies, large-scale asset purchases have become an important weapon of central banks in recent years. It is, however, not clear whether and under which circumstances such policy measures produce the desired effects. This...