12 Jun 2015

The QE Placebo

Daniel Gros

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After pointing out several surprising coincidences and contradictions that arise in nearly every aspect of the QE debate, Daniel Gros arrives at the conclusion in this CEPS Commentary that evaluating the policy’s effectiveness is more of an art than a science, which leaves plenty of room for distortion and bias.

Daniel Gros is Director of CEPS. This commentary was also published by Project Syndicate, 9 June 2015, and syndicated to newspapers and journals worldwide (http://www.project-syndicate.org/commentary/qe-ecb-bond-buying-program-by-daniel-gros-2015-06). It is republished here with the kind permission of Project Syndicate.