Call for Papers

In the wake of the recent financial crisis, monetary authorities around the globe have pursued various non-conventional measures of monetary policy (e.g. large purchases of sovereign bonds and other assets). The most prominent examples include Quantitative Easing (QE) in the United States, United Kingdom and European Union, as well as Quantitative and Qualitative Easing (QQE) in Japan. Yet, both the experience of policymakers with, and the understanding of academics and practitioners of the benefits and costs of these policies remain limited. For instance, Ben Bernanke famously observed that not only “the problem with QE [is that] it works in practice, but it does not work in theory” but also that "one possible cost of conducting additional [QE] is that these operations could impair the functioning of securities markets."

In light of this debate, we solicit theoretical and empirical papers on the impact of entry and exit of non-standard monetary policy tools on:

• Macroeconomic outcomes;
• Firm-level investing and financing;
• Credit and financial intermediation;
• The quality of financial markets,
• Household-level real and financial decisions.

Other related areas may also be considered.

Those wishing to present a paper at the Conference should submit by December 15, 2015 to sovereign.conference@greta.it

Decisions regarding acceptance will be made by February 1, 2016.

The final version of accepted papers must be received by March 1, 2016.

The Conference will provide a stipend of $1,000 to each presenter and discussant to help defray travel and lodging expenses.