John Doukas questions the benefits of quantitative easing:
…excessive money supply fails to increase real economic activity because it raises the labour cost while it lowers the cost of capital. Depressing yields at home, as a result of quantitative easing, in an open economy setting, leads yield-seeking investors into higher-risk investments such as emerging markets.
Read more at Quantitative easing does not address the fundamental problems underpinning struggling western economies. | EUROPP.