Contents of PMM,Volume 29 (2009) |
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| Authors: | Glauco De Vita Andrew Abbott |
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| Affiliation: | 1. International Business Economics , Oxford Brookes University Business School , UK gde-vita@brookes.ac.uk;3. Economics , Hull University Business School , UK |
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| Abstract: | This article appraises the recent UK quantitative easing (QE) monetary experiment. From March 2009 to February 2010, the Bank of England spent £200 billion on gilts and corporate bonds. This experiment represents, as a proportion of GDP, the most ambitious monetary policy ‘mission’ in history. Using several indicators to examine the impact of QE, our analysis leads to a conclusion which, metaphorically, is akin to that ascribed to the 1970 Apollo 13 Moon mission: a ‘successful failure’. |
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