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Monetary Policy in East Asia: Implementation Matters

In: Monetary Policy Implementation in East Asia

Author

Listed:
  • Frank Rövekamp

    (East Asia Institute, Ludwigshafen University of Business and Society)

  • Moritz Bälz

    (Faculty of Law/Interdisciplinary Centre for East Asian Studies, Goethe University)

  • Hanns Günther Hilpert

    (Research Division Asia, German Institute for International and Security Affairs (SWP))

Abstract

When monetary policy was still largely confined to the setting of interest rates and conventional open market operations, monetary policy implementationMonetary policy implementation could be considered a technical issue beyond the scope for academic analysis. This has changed with the advent of the so-called unconventional monetary policiesUnconventional monetary policy such as Quantitative EasingQuantitative Easing (QE) (QE). The exact way of conducting such policies has a huge influence not only on financial markets, but also on the real economyReal economy and on fiscal affairs. Meanwhile, central bank communicationCentral bank communication has proven to be a major factor for the efficiency of monetary policy pathsMonetary policy paths, and in this field, too, success depends to a large degree on proper implementation.

Suggested Citation

  • Frank Rövekamp & Moritz Bälz & Hanns Günther Hilpert, 2020. "Monetary Policy in East Asia: Implementation Matters," Financial and Monetary Policy Studies, in: Frank Rövekamp & Moritz Bälz & Hanns Günther Hilpert (ed.), Monetary Policy Implementation in East Asia, chapter 0, pages 1-9, Springer.
  • Handle: RePEc:spr:fimchp:978-3-030-50298-0_1
    DOI: 10.1007/978-3-030-50298-0_1
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