Publication
9 Oct 2014
This commentary argues that the financial structure of the eurozone makes quantitative easing (QE) which the European Central Bank adopted to fight deflation an ineffective instrument for this task. To support his argument, the author outlines the differences between US and Europe’s financial structures in terms of long terms maturities, mortgages, and asset prices to illustrate why QE works in the former case and not in the latter.
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English (PDF, 2 pages, 495 KB) |
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Author | Daniel Gros |
Series | CEPS Commentaries |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2014 Centre for European Policy Studies (CEPS) |