Doubling your monetary base and surviving: some international experience
AbstractThe authors examine the experience of selected central banks that have used large-scale balance-sheet expansion, frequently referred to as “quantitative easing,” as a monetary policy instrument. The case studies focus on central banks responding to the recent financial crisis and Nordic central banks during the banking crises of the 1990s; others are provided for comparison purposes. The authors conclude that large-scale balance-sheet increases are a viable monetary policy tool provided the public believes the increase will be appropriately reversed.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Federal Reserve Bank of St. Louis in its journal Review.
Volume (Year): (2010)
Issue (Month): Nov ()
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Claudio Borio & Piti Disyatat, 2009.
"Unconventional monetary policies: an appraisal,"
BIS Working Papers
292, Bank for International Settlements.
- Shigenori Shiratsuka, 2010.
"Size and Composition of the Central Bank Balance Sheet: Revisiting Japanfs Experience of the Quantitative Easing Policy,"
Monetary and Economic Studies,
Institute for Monetary and Economic Studies, Bank of Japan, vol. 28, pages 79-106, November.
- Shigenori Shiratsuka, 2009. "Size and Composition of the Central Bank Balance Sheet: Revisiting Japanfs Experience of the Quantitative Easing Policy," IMES Discussion Paper Series 09-E-25, Institute for Monetary and Economic Studies, Bank of Japan.
- Shigenori Shiratsuka, 2010. "Size and composition of the central bank balance sheet: revisiting Japan's experience of the quantitative easing policy," Globalization and Monetary Policy Institute Working Paper 42, Federal Reserve Bank of Dallas.
- Aleksander Berentsen & Christopher Waller, 2011.
"Price‐Level Targeting and Stabilization Policy,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 43, pages 559-580, October.
- Batchelor, Roy A & Dua, Pami, 1989. "Household versus Economist Forecasts of Inflation: A Reassessment: A Note," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 21(2), pages 252-57, May.
- Crowe, Christopher & Meade, Ellen E., 2008.
"Central bank independence and transparency: Evolution and effectiveness,"
European Journal of Political Economy,
Elsevier, vol. 24(4), pages 763-777, December.
- Christopher Crowe & Ellen E. Meade, 2007. "Central Bank Independence and Transparency: Evolution and Effectiveness," Working Papers 2007-20, American University, Department of Economics.
- Richard G. Anderson, 2009. "Resolving a banking crisis, the Nordic way," Economic Synopses, Federal Reserve Bank of St. Louis.
- Richard G. Anderson, 2012. "Quantitative easing the Swedish way," Economic Synopses, Federal Reserve Bank of St. Louis.
- Raphael Auer & Sébastien Kraenzlin, 2011.
"International liquidity provision during the financial crisis: a view from Switzerland,"
Federal Reserve Bank of St. Louis, issue Nov, pages 409-418.
- Raphael Auer & Sebastien Kraenzlin, 2011. "International liquidity provision during the financial crisis: a view from Switzerland," Globalization and Monetary Policy Institute Working Paper 75, Federal Reserve Bank of Dallas.
- Fawley, Brett W. & Neely, Christopher J., 2013. "Four stories of quantitative easing," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 51-88.
- Ahrendsen, Bruce L., 2012. "The Global Financial Crisis: Implications For Capital To Agribusiness," APSTRACT: Applied Studies in Agribusiness and Commerce, AGRIMBA, vol. 6.
- Richard Robinson & Marwan El Nasser, 2013. "Decomposing US Money Supply Changes since the Financial Crisis," International Journal of Financial Studies, MDPI, Open Access Journal, vol. 1(2), pages 32-44, June.
- Stefan Behrendt, 2013. "Monetary Transmission via the Central Bank Balance Sheet," Global Financial Markets Working Paper Series 49-2013, Friedrich-Schiller-University Jena.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna Xiao).
If references are entirely missing, you can add them using this form.