Central bank research may be biased by career concerns, paper finds
Central bankers are more likely to be promoted if they find QE is effective, study shows
Research by central bankers into the effectiveness of quantitative easing (QE) may be biased by career concerns and possibly other factors, a new working paper finds.
The authors of Fifty Shades of QE compare the findings of central bank research into QE against academic research. The results suggest that central bankers tend to find QE has a larger impact on output than similar studies by academic economists.
Brian Fabo, Martina Jančoková, Elisabeth Kempf and Lubos Pastor – affiliated
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