文章基本信息

标题：Quantitative Easing in Europe and its Impact on the Stock Market
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作者：Božena Chovancová ; Jaroslav Hudcovský
期刊名称：Montenegrin Journal of Economics
印刷版ISSN：1800-5845
电子版ISSN：1800-6698
出版年度：2016
卷号：12
期号：3
页码：155-165
DOI：10.14254/1800-5845.2016/12-3/11
出版社：Economic Laboratory for Transition Research Podgorica
摘要：The development over the last decade has offered a new perspectiveon the interaction between the stock market and the realeconomy. The growth of government debts together with the effortsto eliminate the negative impacts of the financial crisis resultedinto a wider usage of new stimulation tools to kick-start thestock markets as well as the real economy. The recent experienceswith various fiscal and monetary tools used in the USA and inJapan show that the most important tool is the growth of themoney supply, i.e. quantitative easing. A lot of economists evaluateits positive results. Also the ECB initiated the quantitativeeasing in order to support the economic growth. The aim of thispaper is to investigate the connection between the growth of theM3 monetary aggregate in the Eurozone and the growth of theEurozone stock markets
关键词：stock market;real economy;monetary aggregate;M3;quantitative easing