| 000 -LEADER |
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| fixed length control field |
01224nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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221007b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Bhattarai, Saroj and Neely, Christopher J. |
| 245 ## - TITLE STATEMENT |
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| Title |
An analysis of the literature on international unconventional monetary policy |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
Journal of Economic Literature |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
60(2), Jun, 2022: p.527-597 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
This paper evaluates the literature on international unconventional monetary policies (UMPs). Introducing market segmentation, limits-to-arbitrage, and time-consistent policy in standard models permits a theoretical role for UMP. Empirical studies provide compelling evidence that UMPs influenced international asset prices and tail risk in the desired manner. Calibrated modeling and vector autoregressive (VAR) exercises imply that these policies also improved macroeconomic outcomes. We assess the recent debate on the empirical evidence and discuss central bank assessments of UMP. Despite qualified successes, we recommend that UMP be reserved for crises and/or when the zero bound constrains conventional monetary policy. – Reproduced |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
Journal of Economic Literature |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
MONETARY POLICY |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
