| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8348 |
| DP8348 Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area | |
| Gert Peersman | |
| 发表日期 | 2011-04-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | I estimate the dynamic effects of respectively traditional interest rate innovations and unconventional monetary policy actions on the Euro area economy. The results show that the Eurosystem can stimulate the economy beyond the policy rate by increasing the size of its balance sheet. The ultimate consequences on output and consumer prices are however more sluggish compared to interest rate innovations. Furthermore, the transmission mechanism via financial institutions - very likely the risk-taking channel - turns out to be different. |
| 主题 | International Macroeconomics |
| 关键词 | Unconventional monetary policy Svars |
| URL | https://cepr.org/publications/dp8348 |
| 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/537175 |
| 推荐引用方式 GB/T 7714 | Gert Peersman. DP8348 Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area. 2011. |
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