The Resource Monetary Policy Responses to the Crisis and Exit Strategies, Makoto Minegishi and Boris Cournède, (electronic resource)

Monetary Policy Responses to the Crisis and Exit Strategies, Makoto Minegishi and Boris Cournède, (electronic resource)

Label
Monetary Policy Responses to the Crisis and Exit Strategies
Title
Monetary Policy Responses to the Crisis and Exit Strategies
Statement of responsibility
Makoto Minegishi and Boris Cournède
Creator
Contributor
Subject
Language
eng
Summary
Central banks have responded with exceptional vigour to the crisis by using their traditional interest-rate tools to their limits and deploying a wide range of unconventional measures. This paper documents these responses in a systematic way, reviews the evidence about their impact, and discusses the need to exit from these measures. Unconventional monetary policy measures appear to have been broadly successful in terms of improving conditions in financial markets and stabilising the real economy. In line with the improvement in functioning of financial markets, however, these unconventional measures should be gradually removed. Given the considerable changes in the size and composition of central banks' balance sheets, the exit will likely involve the combination of various tools. More challenging questions surround the decisions of when and how fast the current exceptional amount of stimulus should be reduced and then eliminated. A particularly important goal will be to preserve the hard-won anchoring of inflation expectations and dissipate any hypothetical fears that central banks? greater risk exposure and purchases of bonds issued or backed by governments might have reduced their independence regarding monetary policy decisions
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Minegishi, Makoto
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Cournede, Boris
Series statement
OECD Economics Department Working Papers,
Series volume
no.753
http://library.link/vocab/subjectName
Economics
Label
Monetary Policy Responses to the Crisis and Exit Strategies, Makoto Minegishi and Boris Cournède, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762090646
Dimensions
21 x 30 cm
Extent
1 online resource 50 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5kml6xm7qgs6-en
Specific material designation
remote
System control number
(OCoLC)762090646
Label
Monetary Policy Responses to the Crisis and Exit Strategies, Makoto Minegishi and Boris Cournède, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762090646
Dimensions
21 x 30 cm
Extent
1 online resource 50 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5kml6xm7qgs6-en
Specific material designation
remote
System control number
(OCoLC)762090646

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