Central Banking after the Crisis

Frederic Mishkin

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: This paper explores where central banking is heading after the recent financial crisis. First it discusses the central bank consensus before the crisis and then outlines the key facts learned from the crisis that require changes in the way central banks conduct their business. Finally, it discusses four main areas in which central banks are altering their policy frameworks: 1) the interaction between monetary and financial stability policies, 2) nonconventional monetary policy, 3) risk management, and 4) fiscal dominance and monetary policy.

Date: 2013-12
New Economics Papers: this item is included in nep-mac and nep-mon
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Chapter: Central Banking after the Crisis (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:714

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