HomeDespre ECTAEventsPolitica editorialaTrimite un articolParteneri / link-uri utileArchiveAbonamentContact

ISSN 1841-8678   (print)
ISSN 1844-0029   (online)


Archive ECTAP

Note: for the period 1994-2003 the archive of the magazine will not be available online

Supplements ECTAP

If you cannot open the pdf file you need Adobe Reader.
download Adobe Reader

Creative Commons License

Theoretical and Applied Economics
No. 2 / 2023 (635), Summer

An analysis regarding the transition from quantitative easing to quantitative tightening in the Euro Area

Bucharest University of Economic Studies, Romania

Abstract. In the context of accelerating inflation growth in 2021-2022 in the Euro Area, the ECB is considering tightening monetary policy, i.e. moving from a quantitative easing (QE) monetary policy that has been practiced for almost a decade in the Euro Area to a quantitative tightening (QT) monetary policy. This article examines what this transition entails as QE provides an easing of financial conditions on a broader scale by reducing long-term interest rates, while the adoption of QT should have the opposite effect, although not necessarily of the same magnitude, i.e. reducing the size of a central bank's asset balance sheet.

Keywords: monetary policy, quantitative tightening, quantitative easing, Euro Area.

Download the full article:  


Open acces




The Economicity. The Epistemic Landscape, Marin Dinu, 2016


ISSN 1841-8678 (ediția print) / ISSN 1844-0029 (ediția online)
© Copyright Asociația Generală a Economiștilor din România (AGER) / General Association of Economists From Romania  (GAER)
Redacția: 010702, București, Calea Griviței nr. 21, sector 1, E-mail:

© 2006-2024 AGER