Journal of Business & Economic Policy

Business Executive Perspectives on Quantitative Easing: An Agent-Based Exploration
O. Homer Erekson, Kirby C. Schulz

Abstract
The effectiveness of quantitative easing has been studied from several angles and perspectives typically using traditional macroeconomic modelling. Some scholars believe that these models fail to explain the behavior of individuals when confronted with financial crises and call for an alternative agent-based approach. In this paper, we provide the results from a survey of senior level business executives regarding their understanding of and approach to the recession of 2008 and quantitative easing. There was consistent evidence that respondents believed quantitative easing had a much stronger impact on other executives than for themselves personally.

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