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The Practice and Theory of Unconventional Monetary Policy

In: Contemporary Issues in Macroeconomics

Author

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  • Haruhiko Kuroda

    (Bank of Japan)

Abstract

It is my great honor to have the opportunity to deliver a speech at the 17th World Congress of the International Economic Association. The topic of this session, “Monetary Policy in A Post-Crisis World,” is currently one of the most critical topics for central banks around the world. Following the global financial crisis triggered by the collapse of Lehman Brothers, the Federal Reserve (Fed) and the Bank of England (BOE) introduced unconventional monetary policy measures such as quantitative easingand forward guidance, which in turn has given rise to a growing body of theoretical research on these measures.

Suggested Citation

  • Haruhiko Kuroda, 2016. "The Practice and Theory of Unconventional Monetary Policy," International Economic Association Series, in: Joseph E. Stiglitz & Martin Guzman (ed.), Contemporary Issues in Macroeconomics, chapter 1, pages 7-14, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-137-52958-9_2
    DOI: 10.1057/9781137529589_2
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    Citations

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    Cited by:

    1. Okimoto, Tatsuyoshi & Takaoka, Sumiko, 2017. "The term structure of credit spreads and business cycle in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 45(C), pages 27-36.
    2. Takaoka, Sumiko, 2018. "Convenience yield on government bonds and unconventional monetary policy in Japanese corporate bond spreads," MPRA Paper 86418, University Library of Munich, Germany.
    3. Wang, Ling, 2019. "Measuring the effects of unconventional monetary policy on MBS spreads: A comparative study," The North American Journal of Economics and Finance, Elsevier, vol. 49(C), pages 235-251.
    4. Çekin, Semih Emre & Hkiri, Besma & Tiwari, Aviral Kumar & Gupta, Rangan, 2020. "The relationship between monetary policy and uncertainty in advanced economies: Evidence from time- and frequency-domains," The Quarterly Review of Economics and Finance, Elsevier, vol. 78(C), pages 70-87.
    5. Takaoka, Sumiko & Takahashi, Koji, 2018. "Differential effects of unconventional monetary policy on syndicated loan contracts," MPRA Paper 89342, University Library of Munich, Germany.
    6. Takaoka, Sumiko & Takahashi, Koji, 2022. "Corporate debt and unconventional monetary policy: The risk-taking channel with bond and loan contracts," Journal of Financial Stability, Elsevier, vol. 60(C).

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