Zero-interest-rate policy

Philip Pilkington

A chapter in Elgar Encyclopedia of Central Banking, 2025, pp 564-565 from Edward Elgar Publishing

Abstract: This is entry 331 in the Elgar Encyclopedia of Central Banking. Elements of past and current monetary policies are described and a critical assessment of central bank practices presented. Giving critical understanding of central banking, at both theoretical and policy-oriented levels this book explains the complexity of monetary-policy interventions, their conceptual and institutional frameworks, and their own limits and drawbacks. The reader is provided with the body of knowledge necessary to understand central banks’ decisions in the aftermath of the global financial crisis and controversial explanations of the crisis are illuminated from a historical perspective.

Keywords: Zero-interest-rate Policy; Quantitative easing (QE); Bank of Japan (BoJ); Liquidity trap; Market monetarists (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035330140
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