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UNCONVENTIONAL MONETARY POLICIES: AN APPRAISAL

机译:非常规货币政策:评估

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摘要

This paper sets out a framework for classifying and thinking about unconventional monetary policies, highlighting how they can be viewed within the overall context of monetary policy implementation. The framework clarifies the differences among the various forms of unconventional monetary policy, provides a systematic characterization of the wide range of central bank responses to the recent crisis, helps to underscore the channels of transmission and identifies some of the main policy challenges. In the process, the paper also addresses a number of contentious analytical issues, notably the role of bank reserves and their inflationary consequences.
机译:本文提出了一个对非常规货币政策进行分类和思考的框架,重点介绍了如何在货币政策实施的整体背景下看待它们。该框架阐明了各种形式的非常规货币政策之间的差异,提供了中央银行对近期危机的各种应对措施的系统性特征,有助于强调传导渠道并确定一些主要的政策挑战。在此过程中,本文还讨论了许多有争议的分析问题,尤其是银行准备金的作用及其通货膨胀的后果。

著录项

  • 来源
    《The Manchester school》 |2010年第suppl期|P.53-89|共37页
  • 作者

    CLAUDIO BORIO; PITI DISYATAT;

  • 作者单位

    Monetary and Economic Department, Bank for International Settlements;

    Monetary and Economic Department, Bank for International Settlements;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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