NEW MODES OF MONETARY POLICY: QUALITATIVE EASING BY THE FED

Philipp Bagus and Markus H. Schiml

Economic Affairs, 2009, vol. 29, issue 2, 46-49

Abstract: Recent developments in monetary policy demand new analytical tools, in particular an analysis of central banks' balance sheets. During the sub‐prime crisis the balance sheet of the Federal Reserve System deteriorated substantially. In this article we analyse the process of this deterioration in detail.

Date: 2009
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