The Limits of QE

The BoJ’s adoption of supercharged-QE has got many investors excited that Japan will finally break out of its growth doldrums. However, there are limits to what QE can achieve… Europe‚Äôs ills cannot be healed by monetary innovation alone, Yves Mersch, FT, 24 Apr 2013
The agony and ecstasy of broken markets, Mohamed El-Erian, FT, 15 Apr, 2013
See also this related post and this.

Postscript…
Side-effects that should call time on QE, Financial Times, 22 Sep 2013