Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/167711
Authors: 
Castro, Ana Esther
Teixeira, José Francisco
Year of Publication: 
2014
Citation: 
[Journal:] Economies [ISSN:] 2227-7099 [Volume:] 2 [Year:] 2014 [Issue:] 2 [Pages:] 109-123
Abstract: 
The effect that the Great Recession had on monetary policies has led to the profound reorientation of central banks' actions from 2007 to 2013. The purpose of this work is to analyze the monetary policies applied by the main central banks, mainly the European Central Bank, the Federal Reserve System of USA and the Bank of Japan, in order to raise thoughts on the guidelines that central banks should follow in the future. In the first section the bases of monetary policy before the crisis are described; in the second we explain the change in the orientation of the role of central banks during the crisis; and finally, we synthesize the bases on which the economic debate is taking place on the orientation of future monetary policies. We conclude that, in so far as the inoperativeness of transmission mechanisms still persists, monetary policies will remain in a process of change.
Subjects: 
monetary policy
central bank
monetary transmission mechanisms
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/
Document Type: 
Article

Files in This Item:
File
Size
294.42 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.