| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8125 |
| DP8125 Non-standard Monetary Policy Measures and Monetary Developments | |
| Lucrezia Reichlin; Huw Pill; Domenico Giannone; Michele Lenza | |
| 发表日期 | 2010-11-01 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Standard accounts of the Great Depression attribute an important causal role to monetary policy errors in accounting for the catastrophic collapse in economic activity observed in the early 1930s. While views vary on the relative importance of money versus credit contraction in the propagation of this policy error to the wider economy and ultimately price developments, a broad consensus exists in the economics profession around the view that the collapse in financial intermediation was a crucial intermediary step. What lessons have monetary policy makers taken from this episode? And how have they informed the conduct of monetary policy by leading central banks in recent times? This paper sets out to address these questions, in the context of the financial crisis of 2008-09 and with application to the euro area. |
| 主题 | International Macroeconomics |
| 关键词 | Non-standard monetary policy Monetary policy shocks Great recession Money Credit |
| URL | https://cepr.org/publications/dp8125 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536947 |
| 推荐引用方式 GB/T 7714 | Lucrezia Reichlin,Huw Pill,Domenico Giannone,et al. DP8125 Non-standard Monetary Policy Measures and Monetary Developments. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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