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The Present Role Of Central Banks – Unconventional Monetary Policies

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  • IONESCU, Lucian C.

    (Institute for Studies on Finance and Banking, Bucharest, Romania)

Abstract

The `Great Recession/crisis` (2007-2009) shockingly marked a drastic change in the ways, means and types of monetary policies initiated and operated by central banks in more and more countries. Anticipated‘by Japan in the 1990s, the stagnation-deflation tandem has become a common denominator especially for western developed countries (Northern America and Western Europe). Being initially an ‘exception from the rule‘, the so-called unconventional monetary policies have gradually evolved into a characteristic/fixture of macroeconomic policy system in most developed economies. This study aims to decipher the determinants, forms and effects of these policies, also including a short ‗study case‘, considerations and conclusions.

Suggested Citation

  • IONESCU, Lucian C., 2016. "The Present Role Of Central Banks – Unconventional Monetary Policies," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 3(1), pages 48-55, October.
    • Handle: RePEc:vls:rojfme:v:3:y:2016:i:1:p:48-55
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    Keywords

    central banks’ role; unconventional monetary policies; quantitative easing; deflation; negative interest rate(s);
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • G - Financial Economics

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