The document discusses the limitations of monetary policy, particularly focusing on the effectiveness of Quantitative Easing (QE). It references Stephen Williamson's critique of QE's theoretical basis and its impact on asset prices. The document also explores the consequences for investors, highlighting the increased volatility in financial markets and changing correlations between asset classes.
doj/DataSet10/EFTA01388573.pdf
{"title":"The limits of monetary policy","key_people":["Stephen Williamson","Robert Barro"],"document_date":"March 2016","document_type":"other","key_locations":["Americas"],"document_subtype":"article","key_organizations":["Federal Reserve Bank of St. Louis"],"reference_numbers":["Working Paper 2015-015A"]}