ECB’s Quantitative Easing (QE) and Within the EU’s Inequality:Qualitative, not Quantitative Causal Inferences from Constructivism

Quantitative Easing and Financial Stability∗

The massive expansion of central-bank balance sheets in response to recent crises raises important questions about the effects of such “quantitative easing” policies, both their effects on financial conditions and on aggregate demand (the intended effects of the policies), and their possible collateral effects on financial stability. The present paper compares three alternative dimensions of ce...

Quantitative modeling and analysis with FMC-QE

The modeling and evaluation calculus FMC-QE, the Fundamental Modeling Concepts for Quantitative Evaluation [143], extends the Fundamental Modeling Concepts (FMC) for performance modeling and prediction. In this new methodology, the hierarchical service requests are in the main focus, because they are the origin of every service provisioning process. Similar to physics, these service requests ar...

Studying mechanisms to strengthen causal inferences in quantitative research

Let me emphasize at the outset that as the terms are being used here, causal inference is not the same as statistical inference. The two types of inference are similar in that they both use “localized” information to draw conclusions about more general phenomena; however the types of phenomena about which one seeks to generalize are not the same and the types of information used also often diff...

The Macroeconomic Effects of Quantitative Easing

When and How To Exit Quantitative Easing?

S ince the onset of the financial crisis in late 2007, the Federal Reserve has injected an astronomical amount of money into the economy through its large-scale asset purchase (LSAP) programs. According to former Fed Chairman Ben Bernanke (2009, p. 5), the essence of LSAP is “credit easing” (CE)—that is, reducing the cost of private borrowing by direct purchases of privately issued debt instead...