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Unconventional Monetary Policy and the Federal Reserve

2013 Monetary policy
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Release : 2013
Genre : Monetary policy
Kind : eBook
Book Rating : 378/5 ( reviews)

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Book Synopsis Unconventional Monetary Policy and the Federal Reserve by : Payton E. Dawson

Download or read book Unconventional Monetary Policy and the Federal Reserve written by Payton E. Dawson. This book was released on 2013. Available in PDF, EPUB and Kindle. Book excerpt: The "Great Recession" and the ensuing weak recovery have led the Federal Reserve (Fed) to re-evaluate its monetary policy. Since December 2008, overnight interest rates have been near zero; at this "zero bound," they cannot be lowered further to stimulate the economy. As a result, the Fed has taken unprecedented policy steps to try to fulfil its statutory mandate of maximum employment and price stability. Congress has oversight responsibilities for ensuring that the Fed's actions are consistent with its mandate. This book analyses the economic effects of these programs, the current economic context in which these policies have been adopted, policy alternatives that the Fed has not pursued to date and their potential effects, potential legislative options for restricting the Fed's pursuit of unconventional monetary policy, and issues surrounding the eventual "exit strategy" from unconventional policy.

Innovative Federal Reserve Policies During The Great Financial Crisis

2018-08-27 Business & Economics
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Release : 2018-08-27
Genre : Business & Economics
Kind : eBook
Book Rating : 604/5 ( reviews)

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Book Synopsis Innovative Federal Reserve Policies During The Great Financial Crisis by : Douglas D Evanoff

Download or read book Innovative Federal Reserve Policies During The Great Financial Crisis written by Douglas D Evanoff. This book was released on 2018-08-27. Available in PDF, EPUB and Kindle. Book excerpt: This book, Innovative Federal Policies During the Great Financial Crisis, contains discussions of unconventional monetary policies, policy changes to address systemic and payments systems risks, new macroprudential policies, the 'stretching' of the financial safety net, changes in the Fed's liquidity funding facility (the discount window), use of the Fed's balance sheet as a tool of monetary policy, and alternative means to deal with real-estate asset bubbles and potential financial instability.The 10 chapters in this book offer a unique analysis of several innovative approaches by the Federal Reserve that contributed to the stabilization of the US economy following the Great Recession. What unique policies were implemented? Toward what goal? Were they effective? Were there unintended consequences? Additionally, but less thoroughly, events in the Euro market are also discussed, and policies (and their impact) of the ECB are critiqued.Based on papers presented at the 91st Annual Conference of the Western Economic Association International Meetings in Portland, Oregon, 2016, Innovative Federal Policies During the Great Financial Crisis adds significantly to the debate over why innovative or unconventional policies were needed, how they were implemented and how effective they were.

Macroeconomic Shocks and Unconventional Monetary Policy

2019 Business & Economics
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Release : 2019
Genre : Business & Economics
Kind : eBook
Book Rating : 107/5 ( reviews)

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Book Synopsis Macroeconomic Shocks and Unconventional Monetary Policy by : Naoyuki Yoshino

Download or read book Macroeconomic Shocks and Unconventional Monetary Policy written by Naoyuki Yoshino. This book was released on 2019. Available in PDF, EPUB and Kindle. Book excerpt: Barely two decades after the Asian financial crisis Asia was suddenly confronted with multiple challenges originating outside the region: the 2008 global financial crisis, the European debt crisis, and finally developed economies' implementation of unconventional monetary policies. The implementation of quantitative easing, ultra-low interest rate policies, and negative interest rate policies by a number of large central banks has given rise to concerns over financial stability and international capital flows. Macroeconomic Shocks and Unconventional Monetary Policy: Impacts on Emerging Markets explains how shocks stemming from the global financial crisis have affected macroeconomic and financial stability in emerging Asia. Macroeconomic Shocks and Unconventional Monetary Policy: Impacts on Emerging Markets brings together the most up-to-date knowledge impacts of recent macroeconomic shocks on Asia's real economy; the spillover effects of macroeconomic shocks on financial markets and flows in Asia; and key challenges for monetary, exchange rate, trade and macro prudential policies of developing Asian economies. It is authored by experts in the field of international macroeconomics from leading academic institutions, central banks, and international organizations including the International Monetary Fund, the Bank for International Settlement, and the Asian Development Bank Institute.

Unconventional Monetary Policy and the Federal Reserve

2013 Business & Economics
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Author :
Release : 2013
Genre : Business & Economics
Kind : eBook
Book Rating : 385/5 ( reviews)

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Book Synopsis Unconventional Monetary Policy and the Federal Reserve by : Payton E. Dawson

Download or read book Unconventional Monetary Policy and the Federal Reserve written by Payton E. Dawson. This book was released on 2013. Available in PDF, EPUB and Kindle. Book excerpt: The "Great Recession" and the ensuing weak recovery have led the Federal Reserve (Fed) to reevaluate its monetary policy. Since December 2008, overnight interest rates have been near zero; at this "zero bound," they cannot be lowered further to stimulate the economy. As a result, the Fed has taken unprecedented policy steps to try to fulfill its statutory mandate of maximum employment and price stability. Congress has oversight responsibilities for ensuring that the Fed's actions are consistent with its mandate. This book analyzes the economic effects of these programs, the current economic context in which these policies have been adopted, policy alternatives that the Fed has not pursued to date and their potential effects, potential legislative options for restricting the Fed's pursuit of unconventional monetary policy, and issues surrounding the eventual "exit strategy" from unconventional policy.

Unconventional Monetary Policy in Practice. A Comparison of 'Quantitative Easing' in Japan and the USA

2015-09-28 Business & Economics
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Release : 2015-09-28
Genre : Business & Economics
Kind : eBook
Book Rating : 04X/5 ( reviews)

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Book Synopsis Unconventional Monetary Policy in Practice. A Comparison of 'Quantitative Easing' in Japan and the USA by : Matthias Reith

Download or read book Unconventional Monetary Policy in Practice. A Comparison of 'Quantitative Easing' in Japan and the USA written by Matthias Reith. This book was released on 2015-09-28. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2009 in the subject Economics - Finance, grade: 1, University of Vienna, language: English, abstract: In the current economic and financial crisis, many western central banks introduced “unconventional” monetary policy measures, commonly referred to as “Quantitative Easing (QE)”. However, the Bank of Japan (BoJ) already applied QE between 2001 and 2006. This lead many commentators to make oversimplifying comparisons between the BoJ’s QE approach (2001-2006) and current implementations of QE by other central banks. In particular, this diploma thesis tries to examine the differences between BoJ-type QE and Fedtype QE. It turns out that both approaches differ fundamentally from each other on various grounds: The primary aim of QE in Japan was fighting deflation, whereas the American central bank addresses mostly strains in the banking system. Concerning the concrete measures, one can say that QE by the BoJ consisted to a good deal of active QE in terms of outright purchases of Japanese government securities (JGBs), whereas the Fed currently follows a somewhat broader approach: Since interbank markets are not functioning as desired, it tries to engage with as many market participants as direct as possible. Therefore the Fed has introduced a much broader range of new instruments than its Japanese counterpart did between 2001 and 2006. As a result, the Fed’s balance sheet expansion was considerably larger than the one in Japan.

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