More Stories of Unconventional Monetary Policy

Review, 2021, vol. 103, issue 2, 207-270

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 open-ended 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; central banks (search for similar items in EconPapers)
JEL-codes: E51 E58 E61 G12 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Working Paper: More Stories of Unconventional Monetary Policy (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlrv:91430

DOI: 10.20955/r.103.207-70

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