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Qualitative Easing in Support of a Tumbling Financial System
Philipp Bagus
David Howden
其他書名
A Look at the Eurosystem's Recent Balance Sheet Policies
出版
SSRN
, 2009
URL
http://books.google.com.hk/books?id=iqLfzwEACAAJ&hl=&source=gbs_api
註釋
Attention has recently been drawn to compositional changes in the Federal Reserve System's asset holdings and in particular the deterioration of the balance sheet of the Fed in the face of the current crisis. However, an analysis of the balance sheet policies of the Eurosystem is still missing. In this article we fill this gap by analysing the Eurosystem's balance sheet during the recent subprime crisis. The calculation of certain balance sheet ratios supports the assessment that a significant decrease in the quality of money has occurred.
