Helicopter money and quantitative easing

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Table of contents

1 Introduction
1.1 Related literature
1.2 A simple formula
2 The model
2.1 House holds
2.1.1 Ricardian
2.1.2 Keynesian
2.2 Firms
2.3 Fiscal Authority and Monetary Authority
2.4 Markets clearing conditions and equilibrium
3 Helicopter money and quantitative easing
3.1 Calibration
3.2 Helicopter money
3.3 Helicopter versus QE
3.4 Sensitivity analysis and robustness
4 Estimation of the efficiency of QE in Europe since 2008
5 Welfare analysis
6 Productivity shocks and optimal monetary policy 
7 Conclusion
8 References