Breedon, Francis; Chadha, Jagjit S.; Waters, Alex - In: Oxford Review of Economic Policy 28 (2012) 4, pp. 702-728
After outlining some of the monetary developments associated with quantitative easing (QE), we measure the impact of the UK’s initial 2009–10 QE programme on bonds and other assets. First, we use a macro-finance yield curve both to create a counterfactual path for bond yields and to estimate...