Conventional and unconventional monetary policy rules

被引：5

作者：

Sheedy, Kevin D. ^{[1
,2
,3
]}

机构：

[1] London Sch Econ & Polit Sci, Dept Econ, Houghton St, London WC2A 2AE, England

[2] LSE, CEP, CEPR, London, England

[3] CfM, London, England

来源：

JOURNAL OF MACROECONOMICS | 2017年 / 54卷

关键词：

Unconventional monetary policy; Monetary policy rules;

D O I：

10.1016/j.jmacro.2017.07.007

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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. (C) 2017 Elsevier Inc. All rights reserved.

引用

页码：127 / 147

页数：21

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