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Analytical article of ICEF assistant professor in the Voxeu column

30 October 2012 an analytical article of ICEF assistant professor Udara Peiris (co-authored with Michael McMahon and Herakles Polemarchakis) was published in the Voxeu column. The theme of the article: “Outright Monetary Transactions sterilised?”


30 October 2012 an analytical article of ICEF assistant professor Udara Peiris (co-authored with Michael McMahon and Herakles Polemarchakis) was published in the Voxeu column. The theme of the article: “Outright Monetary Transactions sterilised?”

Abstract
Sterilisation’ - where purchases of assets by a central bank are offset by withdrawals - may help the ECB to control inflation. This column discusses how the ECB’s current approach may be fraught with danger, however. In a world where sovereign default risk is perceived to be likely, the ECB’s only real hope is that its approach makes a Eurozone default impossible.

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VoxEU.org is a policy portal set up by the Centre for Economic Policy Research (www.CEPR.org) in conjunction with a consortium of national sites. Vox aims to promote research-based policy analysis and commentary by leading scholars. The intended audience is economists in governments, international organisations, academia and the private sector as well as journalists specializing in economics, finance and business. Assistance for the Centre's work on Vox has been provided by the European Union, through its programme of support for bodies active at the European level in the field of active European citizenship.