Ricardo Reis's picture
Affiliation: 
London School of Economics and Columbia University
Credentials: 
Professor of economics

Voting history

ECB's quantitative easing

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Question 1:

Do you agree that the design of the ECB's QE programme reduces its effectiveness? 

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Answer:
Neither agree nor disagree
Confidence level:
Not confident
Comment:
While there is compelling evidence that QE has been effective in the recent crisis at reducing interest rates, the channels through which it operated are still being figured out. There is exciting research on the topic, but still not a definite conclusion. Therefore, concluding whether the particular approach taken by the ECB will improve or hurt that effectiveness is not something that I think we can confidently answer.

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