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The global Crisis and Unconventional Monetary Policy: ECB versus Fed

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  • Carolina Tuckwell
  • António Mendonça

Abstract

In the aftermath of the global economic and financial crisis, which broke-out in 2007, the major central banks started implementing so-called unconventional monetary policy measures. Following a fundamentally qualitative methodology, the aim of this paper is to compare the unconventional measures adopted by the ECB and the Fed, assessing their characteristics and also their impacts on the economy.

Suggested Citation

  • Carolina Tuckwell & António Mendonça, 2016. "The global Crisis and Unconventional Monetary Policy: ECB versus Fed," CEsA Working Papers 141, CEsA - Center for African and Development Studies.
  • Handle: RePEc:cav:cavwpp:wp141
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    File URL: https://cesa.rc.iseg.ulisboa.pt/RePEc/cav/cavwpp/wp141.pdf
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    References listed on IDEAS

    as
    1. Gert Peersman, 2011. "Macroeconomic consequences of different types of credit market disturbances and non-conventional monetary policy in the euro area," 2011 Meeting Papers 333, Society for Economic Dynamics.
    2. Buiter, Willem H. & Rahbari, Ebrahim, 2012. "The ECB as Lender of Last Resort for Sovereigns in the Euro Area," CEPR Discussion Papers 8974, C.E.P.R. Discussion Papers.
    3. Patricia S. Pollard, 2003. "A look inside two central banks: the European Central Bank and the Federal Reserve," Review, Federal Reserve Bank of St. Louis, vol. 85(Jan), pages 11-30.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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