Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long as we...

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Weitere Verfasser:	Chadha, Jagjit (HerausgeberIn), Holly, Sean (HerausgeberIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Cambridge Cambridge University Press 2012
Schriftenreihe:	Macroeconomic policy making
Schlagworte:	Politik Monetary policy Macroeconomics Finance / Government policy Financial crises / 21st century Interest rates Global Financial Crisis, 2008-2009 Finanzkrise Notenbankpolitik Geopolitik Konferenzschrift > 2010 > Cambridge
Online-Zugang:	BSB01 UBG01 Volltext
Zusammenfassung:	Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long as we used short-term nominal interest rates as the instrument of policy because money and other credit markets would clear at the given policy rate. However, very early on in the financial crisis interest rates effectively hit zero percent and so central banks had to resort to a wholly new set of largely untested instruments to restore order, including quantitative easing and the purchase of toxic financial assets. This book brings together contributions from economists working in academia, financial markets and central banks to assess the effectiveness of these policy instruments and explore what lessons have so far been learned
Beschreibung:	Title from publisher's bibliographic system (viewed on 14 Jan 2016)
Beschreibung:	1 online resource (xi, 280 pages)
ISBN:	9781139044233
DOI:	10.1017/CBO9781139044233