Conventional and unconventional monetary policy rules

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This essay examines the challenges in devising rules for unconventional monetary policy suitable for a post-crisis world. It is argued that unconventional monetary policy instruments are a poor substitute for conventional interest-rate policy in stabilizing the economy and in insulating monetary policy from political pressures. Some suggestions for the reform of inflation targeting are made to reduce the need for unconventional policy instruments in the future.

Keywords: unconventional monetary policy; monetary policy rules (search for similar items in EconPapers)
JEL-codes: F3 G3 N0 (search for similar items in EconPapers)
Date: 2017-12-01
New Economics Papers: this item is included in nep-cba and nep-mon
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Citations: View citations in EconPapers (2)

Published in Journal of Macroeconomics, 1, December, 2017, 54(A), pp. 127-147. ISSN: 0164-0704

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Related works:
Journal Article: Conventional and unconventional monetary policy rules (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:83608

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