NDLI: Unconventional Monetary Policy: Between the Past and Future of Monetary Economics

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Unconventional Monetary Policy: Between the Past and Future of Monetary Economics

Content Provider	Scilit
Author	Guerini, Mattia Lamperti, Francesco Mazzocchetti, Andrea
Copyright Year	2018
Description	Journal: SSRN Electronic Journal In this paper we discuss some of the monetary policy issues that have involved major central banks worldwide since the 2008 financial crisis, and which remain open. We provide an excursus of the unconventional monetary policies adopted by central banks in the last decade, focusing on the European Central Bank and the Federal Reserve, and we discuss the rationale and efficacy of some unconventional monetary instruments, of inflation targeting and of central bank independence. We also provide a perspective on possible future developments of monetary policy. We argue that while unconventional monetary policy was useful, there is still ample space for improvement: in the recessions to come, unconventional monetary policy will need to be better coordinated with fiscal, micro- and macro-prudential policies to provide more inclusive results that might positively affect the real economy beyond the financial system.
Related Links	https://www.econstor.eu/bitstream/10419/203062/1/1019875127.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3167969
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3167969
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2018-04-23
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Unconventional Monetary Policies Inflation Targeting Central Bank Independence
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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