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How to create a recovery through ‘Quantitative Monetary Easing’

Werner, Richard A. (1995) How to create a recovery through ‘Quantitative Monetary Easing’ The Nihon Keizai Shinbun (Nikkei), 2 September 1995 (morning edition), p.26.

Record type: Article


This article explains the causes of banking crises and proposes suitable policies to resolve them and stimulate a swift recovery. It is applied to the Japanese situation and was published in 1995, presenting a new concept of monetary policy, dubbed by the author 'quantitative monetary easing', or short, as also mentioned in the text, 'quantitative easing'. The definition of this concept is to expand the quantity of total credit creation, especially used for GDP transactions. Unsustainable asset bubbles are seen as being caused by substantial credit creation in excess of nominal GDP growth. Central banks can intervene and by adopting quantitative easing end the banking crisis and stimulate a swift recovery.

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Published date: 2 September 1995
Additional Information: English translation by T. John Cooke (November 2011)
Organisations: Centre for Digital, Interactive & Data Driven Marketing


Local EPrints ID: 340476
ISSN: 0021-4388
PURE UUID: 27b0586c-51b1-49b5-86de-ef7f6c7a6ed1

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Date deposited: 09 Jul 2012 15:28
Last modified: 18 Jul 2017 05:43

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