ECB Quantitative Easing (QE): Lessons Drawn from QE Experiences Carried Out by Other Major Central Banks

The notes in this compilation prepared by key monetary experts review the asset purchase programmes (Quantitative Easing or QE) undertaken by major central banks of developed countries in recent years, discuss their macroeconomic and financial effects and elaborate on the policy messages relevant for the euro area that can be drawn from these experiences. The notes have been requested by the Committee on Economic and Monetary Affairs (ECON) of the European Parliament as an input for the March 2015 session of the Monetary Dialogue between the Members of the ECON Committee and the President of the ECB.