More Stories of Unconventional Monetary Policy

No 2020-043, Working Papers from Federal Reserve Bank of St. Louis

Abstract: This article extends the work of Fawley and Neely (2013) to describe how major central banks have evolved unconventional monetary policies to encourage real activity and maintain stable inflation rates from 2013 through 2019. By 2013, central banks were moving from lump-sum asset purchase programs to continuing asset purchase programs, which are conditioned on economic conditions, careful communication strategies, bank lending programs with incentives and negative interest rates. This article reviews how central banks tailored their unconventional monetary methods to their various challenges and the structures of their respective economies.

Keywords: monetary policy; quantitative easing; central banks; long-term yield (search for similar items in EconPapers)
JEL-codes: E51 E58 E61 G12 (search for similar items in EconPapers)
Pages: 93 pages
Date: 2020-10-29
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations:

Forthcoming in Federal Reserve Bank of St. Louis Review

Downloads: (external link)
https://s3.amazonaws.com/real.stlouisfed.org/wp/2020/2020-043.pdf Full Text (application/pdf)

Related works:
Journal Article: More Stories of Unconventional Monetary Policy (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlwp:88994

Ordering information: This working paper can be ordered from

DOI: 10.20955/wp.2020.043

Access Statistics for this paper

More papers in Working Papers from Federal Reserve Bank of St. Louis Contact information at EDIRC.
Bibliographic data for series maintained by Scott St. Louis ().