Projekt

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Many central banks have introduced quantitative easing (QE) as a new policy tool where they massively buy bonds from market participants to provide liquidity to the market, reduce the cost of capital and ultimately foster economic growth. Although such monetary policy measures by the Federal Reserve and the Bank of Japan seem to have had the desired effect in the home market, there are still many open questions about the effectiveness of QE with respect to its global impact. These policies (and unwinding them later on) have an impact on the stability of financial markets and financial institutions, not only in the industrialized countries but also in emerging markets.The project proposes a new approach to address the topic from the banking and finance perspective. It aims to analyse the potential effect of QE, in particular on (i) the pricing of financial assets, (ii) the risk taking by banks, and (iii) the spillover effects to emerging markets.

• Prof. Dr. Loriana Pelizzon

  Research Center SAFE
  House of Finance
  Frankfurt
  

• Prof. Jun Uno

  Waseda University
  Graduate School of Finance, Accounting and Law
  Tokyo
  Japan
  

• Dr. Co-Pierre Georg

  University of Cape Town
  Faculty of Commerce
  Cape Town
  Südafrika
  

• Prof. Marti Subrahmanyam

  New York University
  Stern School of Business, Finance Department
  New York
  USA
  

• Prof. Dr. Marcel Bluhm

  Xiamen University
  School of Economics
  The Wang Yanan Institute for Studies in Economics
  Xiamen University Campus
  Xiamen
  China (Volksrepublik)
  

• Does Monetary Policy Impact International Market Co-Movements?

• Central Bank - Driven Mispricing

• Echo over the Great Wall: Spillover Effects of QE Announcements on Chinese Yield Curve

• Lender of Last Resort, Buyer of Last Resort, and a Fear of Fire Sales in the Sovereign Bond Market