Rieth, Malte; Piffer, Michele; Hachula, Michael - In: DIW Economic Bulletin 6 (2016) 7, pp. 83-91
The European Central Bank has engaged in a wide range of nonstandard monetary policy measures since 2007. Each new tool was accompanied by an intense public debate on its effectiveness. This study evaluates the average effect of these measures on the macro-economy. The estimates show that...