IMFの3人の研究者（Giovanni Dell’Ariccia、Pau Rabanal、Damiano Sandri）が「Unconventional Monetary Policies in the Euro Area, Japan, and the United Kingdom」という論文をJournal of Economic Perspectivesに投稿している（H/T Tim Taylor）。
論文の表3では様々な研究者が調べた日本の非伝統的金融政策の効果がまとめられているので、以下に引用してみる。
| Study | Notes | Government bond yields | GDP | Inflation |
|---|---|---|---|---|
| Lam (2011); Ueda (2012)*1 | Event study of BoJ announcement on Oct 5, 2010. | -10 bps | ||
| De Michelis and Iacoviello (2016) | VAR analysis of 2% inflation target announcement in January 2013 | +0.8% | ||
| Arai (2017) | Event study of announcements around QQE1 | -14 bps | ||
| Hausman and Wieland (2014)*2 | Announcement effects and VAR analysis of QQE1 | -11 bps | up to +1% | |
| Kan, Kishaba, and Tsuruga (2016)*3 | QQE1 effects using BoJ’s large-scale macroeconomic model | +0.6/4.2% | +0.3/1.5% | |
| Michaelis and Watzka (2017)*4 | VAR analysis of QQE, response to 1% increase in bank reserves | Not significant | +0.2% |
