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Elements of unconventional monetary policy at the European Central Bank (Elementy niekonwencjonalnej polityki pienieznej Europejskiego Banku Centralnego)

Author

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  • Andrzej Raczko

    (Narodowy Bank Polski)

Abstract

The unconventionality of monetary policy can be considered depending on the system in which it is functioning. Talking about unconventionality monetary policy makes sense for systems that recognize price stability, priority, and factors shaping demand for money for instruments of this policy. In this article: firstely a set of common elements of monetary policy applied in different countries was distinguished, which can be considered as factors that determined its conventionality. Secondely, the elements responsible for the introduction the unconventionality are analyzed. Thirdly, the effects of the different forms of political unconventionality in relation to its effectiveness and the possibility of returning to politics conventional is analyzed. The last part is devoted the results of choosing a particular form unconventionality by the ECB.

Suggested Citation

  • Andrzej Raczko, 2017. "Elements of unconventional monetary policy at the European Central Bank (Elementy niekonwencjonalnej polityki pienieznej Europejskiego Banku Centralnego)," Research Reports, University of Warsaw, Faculty of Management, vol. 2(25), pages 74-83.
    • Handle: RePEc:sgm:resrep:v:2:i:25:y:2017:p:74-83
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    File URL: http://www.sim.wz.uw.edu.pl/sites/default/files/artykuly/raczko.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    European Central Bank; unconventional monetary policy; monetary policy;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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