Gregory Claeys, Maria Demertzis, (2017), “How should the European Central Bank ‘normalise’ its monetary policy?”, Bruegel, 23 Νοεμβρίου
As the global financial crisis unfolded, the European Central Bank (ECB) and other central banks greatly extended their monetary policy toolboxes and adjusted their operational frameworks. These unconventional monetary policies have left central banks with large balance sheets.As growth picks up in the euro area, there are discussions about how to normalise monetary policy, but it is unclear if normalisation means returning to monetary policy as it was prior to the crisis, or whether there is a ‘new normal’ that would justify different monetary policies.
Σχετικές Αναρτήσεις
- Sami Ben Naceur, Caroline Roulet, (2017), «Basel III and Bank-Lending: Evidence from the United States and Europe», IMF Working Paper No.17/245, 15 Nοεμβρίου
- Mario Draghi (2017), «European banking supervision three years on», European Central Bank, 7 Νοεμβρίου