Forrest Capie is Professor of Economic History at Cass Business School, City University, London, where he was Head of the Department of Banking and Finance. After receiving a Ph.D. at the London School of Economics, he taught at the universities of Warwick and Leeds. Professor Capie has also...

Empirical papers analysing the transmission of (unconventional) monetary policy typically rely on a vector autoregressive framework. In this paper, I complement these studies and employ a matching approach to examine the impact of the Bank of England's asset purchase program on macroeconomic...