{"id":"https://openalex.org/W2223740979","doi":null,"title":"Quantitative Easing in Japan and the UK An Econometric Evaluation of the Impacts of Unconventional Monetary Policy on the Returns of Aggregate Output and Price Levels","display_name":"Quantitative Easing in Japan and the UK An Econometric Evaluation of the Impacts of Unconventional Monetary Policy on the Returns of Aggregate Output and Price Levels","publication_year":2015,"publication_date":"2015-01-01","ids":{"openalex":"https://openalex.org/W2223740979","mag":"2223740979"},"language":"en","primary_location":{"id":"pmh:oai::68707","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},"volume":null,"type":"report","is_traditional":false,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5023709820","display_name":"Haytem Troug","orcid":"https://orcid.org/0000-0002-6587-1734","observed_orcids":["https://orcid.org/0000-0002-6587-1734"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Haytem Troug","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-6587-1734","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5068833208","display_name":"Matt Murray","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Matt Murray","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14166","display_name":"European Monetary and Fiscal Policies","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/quantitative-easing","display_name":"quantitative easing","score":0.949999988079071},{"id":"https://openalex.org/keywords/unconventional-monetary-policy","display_name":"unconventional monetary policy","score":0.9990000128746033},{"id":"https://openalex.org/keywords/bank-of-japan","display_name":"Bank of Japan","score":0.8769999742507935},{"id":"https://openalex.org/keywords/bank-of-england","display_name":"Bank of England","score":1.0},{"id":"https://openalex.org/keywords/aggregate-output","display_name":"aggregate production","score":0.7379999756813049},{"id":"https://openalex.org/keywords/price-level","display_name":"price level","score":0.8460000157356262},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.703000009059906},{"id":"https://openalex.org/keywords/financial-transmission-mechanism","display_name":"financial transmission mechanism","score":0.9399999976158142},{"id":"https://openalex.org/keywords/stock-market","display_name":"stock market","score":0.9129999876022339},{"id":"https://openalex.org/keywords/bank-lending","display_name":"bank lending","score":0.996999979019165},{"id":"https://openalex.org/keywords/japan","display_name":"Japan","score":0.6520000100135803}],"concepts":[{"id":"https://openalex.org/C29185160","wikidata":"https://www.wikidata.org/wiki/Q874727","display_name":"Quantitative easing","level":4,"score":0.7740185260772705},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7702535390853882},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.6881533265113831},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.5710334777832031},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.550212562084198},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.48901423811912537},{"id":"https://openalex.org/C180075932","wikidata":"https://www.wikidata.org/wiki/Q5333342","display_name":"Econometric model","level":2,"score":0.4675741493701935},{"id":"https://openalex.org/C203379541","wikidata":"https://www.wikidata.org/wiki/Q1801078","display_name":"Aggregate demand","level":3,"score":0.440601110458374},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.4295249581336975},{"id":"https://openalex.org/C2984393311","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometric analysis","level":2,"score":0.41680338978767395},{"id":"https://openalex.org/C185824701","wikidata":"https://www.wikidata.org/wiki/Q1193759","display_name":"Inflation targeting","level":3,"score":0.41256484389305115},{"id":"https://openalex.org/C2992735868","wikidata":"https://www.wikidata.org/wiki/Q66344","display_name":"Central bank","level":3,"score":0.3063734173774719},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.07628411054611206},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"pmh:oai::68707","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},{"id":"pmh:oai:RePEc:pra:mprapa:68707","doi":null,"is_oa":false,"landing_page_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:2223740979","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:pra:mprapa:68707","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"mag:3146339917","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/pra/mprapa/68707.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"MPRA Paper","raw_type":null}],"best_oa_location":{"id":"pmh:oai::68707","doi":null,"is_oa":true,"landing_page_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","pdf_url":"https://mpra.ub.uni-muenchen.de/68707/1/MPRA_paper_68707.pdf","source":{"id":"https://openalex.org/S4306400553","display_name":"Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I8204097","host_organization_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","host_organization_lineage":["https://openalex.org/I8204097"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"MPRA Paper"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2223740979.pdf","grobid_xml":"https://content.openalex.org/works/W2223740979.grobid-xml"},"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2000366407","https://openalex.org/W7098168029","https://openalex.org/W2124479892","https://openalex.org/W3179640247","https://openalex.org/W3193016027","https://openalex.org/W7135692939","https://openalex.org/W7009400219","https://openalex.org/W4408731223","https://openalex.org/W7011602767","https://openalex.org/W7145749382"],"abstract_inverted_index":{"The":[0,54],"research":[1,132],"finds":[2],"that":[3,144],"the":[4,7,23,35,41,43,48,65,68,75,81,96,108,114,131,134,146,157,163],"actions":[5],"of":[6,16,22,37,67,72,77,83,89,110,136,162,165],"BoJ":[8],"were":[9,31],"more":[10,169],"successful":[11],"in":[12,40,93,156],"raising":[13],"aggregate":[14,87],"levels":[15,88,181],"output":[17,90],"and":[18,51,80,91,95,102,148,159,182],"price":[19],"than":[20],"those":[21],"BoE.":[24],"In":[25],"Japan,":[26],"all":[27],"financial":[28,115],"variables":[29],"analysed":[30],"found":[32,59],"to":[33,60,105,127,130,142,173,176],"transmit":[34],"benefits":[36],"QME,":[38],"whilst":[39],"UK":[42,149],"effect":[44],"only":[45],"occurs":[46],"through":[47],"stock":[49],"market":[50],"bank":[52],"lending.":[53],"overall":[55],"results":[56],"however,":[57],"are":[58],"be":[61,174],"small.":[62],"To":[63],"analyse":[64],"effects":[66,109,121,135,164],"most":[69],"recent":[70],"policies":[71],"QME":[73],"by":[74,118],"Bank":[76,82],"Japan":[78,94],"(BoJ)":[79],"England":[84],"(BoE)":[85],"on":[86],"prices":[92],"UK,":[97],"We":[98],"perform":[99],"two-step":[100],"VAR":[101],"VEC":[103],"analysis":[104,125],"first":[106],"identify":[107],"QMEP":[111,166],"before":[112],"determining":[113],"transmission":[116],"mechanism":[117],"which":[119],"these":[120],"take":[122],"place.":[123],"This":[124],"aims":[126],"make":[128],"contribution":[129],"surrounding":[133],"QMEP.":[137],"It":[138],"is":[139],"wholly":[140],"reasonable":[141],"presume":[143],"both":[145],"Japanese":[147],"economies":[150],"may":[151],"experience":[152],"similar":[153],"economic":[154,185],"difficulties":[155],"future":[158,184],"further":[160],"understanding":[161],"will":[167],"enable":[168],"targeted":[170],"policy":[171],"decisions":[172],"implemented":[175],"effectively":[177],"protect":[178],"stable":[179],"inflation":[180],"stimulate":[183],"growth.":[186]},"counts_by_year":[{"year":2017,"cited_by_count":1}],"updated_date":"2026-11-06T12:05:46.655746","created_date":"2016-06-24T00:00:00"}
