Unconventional Monetary Policy: The International Experience with Central Bank Asset Purchases
AbstractAs part of their policy response to the financial crisis of 2007-09, central banks introduced numerous unprecedented monetary policy measures to provide monetary easing. This article defines and documents these measures, focusing on central bank asset purchases and their impact on central bank balance sheets. It then discusses the challenges of identifying the effects of these measures and explores possible exit strategies. The potential costs of these policies are also analyzed, as well as the broader implications for monetary policy frameworks.
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Bibliographic InfoArticle provided by Bank of Canada in its journal Bank of Canada Review.
Volume (Year): 2011 (2011)
Issue (Month): Spring ()
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- Richhild Moessner, 2014. "Effects of ECB balance sheet policy announcements on inflation expectations," DNB Working Papers 416, Netherlands Central Bank, Research Department.
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