Monetary Policy and Economic Performance Since the Financial Crisis
Dario Caldara,
Etienne Gagnon,
Enrique Martínez García () and
Christopher Neely
No 399, Globalization Institute Working Papers from Federal Reserve Bank of Dallas
Abstract:
We review the macroeconomic performance over the period since the Global Financial Crisis and the challenges in the pursuit of the Federal Reserve’s dual mandate. We characterize the use of forward guidance and balance sheet policies after the federal funds rate reached the effective lower bound. We also review the evidence on the efficacy of these tools and consider whether policymakers might have used them more forcefully. Finally, we examine the post-crisis experience of other major central banks with these policy tools.
Keywords: Global Financial Crisis 2007–09; monetary policy; effective lower bound; structural changes; forward guidance; balance sheet policies (search for similar items in EconPapers)
JEL-codes: E31 E32 E52 E58 (search for similar items in EconPapers)
Pages: 58
Date: 2020-08-28
New Economics Papers: this item is included in nep-mac and nep-mon
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Citations: View citations in EconPapers (4)
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Journal Article: Monetary Policy and Economic Performance Since the Financial Crisis (2021) 
Working Paper: Monetary Policy and Economic Performance since the Financial Crisis (2020) 
Working Paper: Monetary Policy and Economic Performance since the Financial Crisis (2020) 
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Persistent link: https://EconPapers.repec.org/RePEc:fip:feddgw:88672
DOI: 10.24149/gwp399
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