Panacea, Curse, or Nonevent?: Unconventional Monetary Policy in the United Kingdom

The Bank of England''s current ""quantitative easing"" strategy has given rise to a controversial debate about the effects and risks of unconventional monetary policy. The present paper makes two contributions to this debate. First, it provides a systematic overview of...

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1. Verfasser: Meier, André (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C International Monetary Fund 2009
Schriftenreihe:IMF Working Papers Working Paper No. 09/163
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Zusammenfassung:The Bank of England''s current ""quantitative easing"" strategy has given rise to a controversial debate about the effects and risks of unconventional monetary policy. The present paper makes two contributions to this debate. First, it provides a systematic overview of unconventional policy options, drawing from existing theoretical and empirical studies. Against this backdrop, it then analyzes the BoE''s specific policies, discussing their effectiveness so far and putting them into a cross-country context. Tentative evidence on the BoE''s quantitative easing is moderately encouraging, although the strategy is neither guaranteed to succeed nor as perilous as some of its detractors claim
Beschreibung:1 Online-Ressource (47 p)
ISBN:1451873107
9781451873108

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