Woong Kang, Dae, Ligthart, Nick, Mody, Ashoka, (2016), “The ECB and the Fed: A comparative narrative”, Voxeu, 19 January
Although the Great Recession was viewed as a US problem, the Eurozone was affected by it from the start. This column compares the monetary policy responses to the Crisis by the Fed and the ECB. It argues that the US approach has been much more aggressive and proactive. The ECB failed to provide stimulus when needed, and as a result the Eurozone might slip into a low-inflation trap.
Relevant Posts
- De Grauwe, P. & Ji, Y. (2015) “Quantitative easing in the Eurozone: It’s possible without fiscal transfers“, VoxEU Organisation, 15 January.
- Wyplosz, C. (2015) “ECB minutes: What they really tell us”, VoxEU Organisation, 02 March.