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Quantitative Easing The Great Central Bank Experiment.

A thorough and perspicacious analysis of auantitative easing (QE), what has become a recovery method of last resort, that will be essential reading for anyone wanting to understand central banking's role in the national economy.

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Ashworth, Jonathan
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Newcastle Upon Tyne : Agenda Publishing, 2020.
Colección:Finance Matters.
Temas:
Acceso en línea:Texto completo

MARC

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245 1 0 |a Quantitative Easing  |h [electronic resource] :  |b The Great Central Bank Experiment. 
260 |a Newcastle Upon Tyne :  |b Agenda Publishing,  |c 2020. 
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505 0 |a Cover -- Half Title -- Series Information -- Title Page -- Copyright Page -- Contents -- Preface -- Abbreviation -- Foreword -- 1. Monetary policy-making since the end of Bretton Woods -- A new framework for monetary policy: central bank independence and inflation targeting -- Despite the greater focus on inflation, central banks had not become "inflation nutters" -- The monetary policy decision-making process and central bank communication -- The implementation of monetary policy changes -- How the transmission mechanism of monetary policy works -- Gauging the stance of monetary policy 
505 8 |a 2. Key monetary policy trends and events in the decades before the Great Financial Crisis -- Sharply falling interest rates during the Great Moderation -- The onset of the ZLB in Japan amid its "lost decade" -- The bursting of the IT bubble fuelled record low US rates -- The Bank of Japan enacts "drastic" measures with QE -- 3. The Great Financial Crisis and the onset of quantitative easing -- Massive financial panic after the collapse of Lehman Brothers -- Central bank interest rates hit record lows -- The US and UK begin large-scale QE -- The euro area did not initially enact QE 
505 8 |a Draghi's strong words end the euro area crisis -- The Bank of Japan's response to the financial crisis was modest -- QE ends in the US and UK, but then restarts as recoveries slow -- Japan unleashes a huge new QE programme amid "Abenomics" -- Europe finally begins QE -- 4. How quantitative easing works -- Main channels through which QE works -- US and UK QE differed from the initial Japanese experiment -- Other channels in which QE is beneficial -- QE may have some differing impacts across countries -- QE has increasingly involved the purchase of riskier assets 
505 8 |a QE is likely to have diminishing returns over time -- 5. Measuring the effectiveness and impact of quantitative easing -- Methods of estimating QE's impact -- QE1 helped the US and UK economies avoid a worst-case scenario and begin to recover -- Some observers were sceptical about the impact of QE1 -- Additional rounds of US and UK QE eased financial conditions further, with signs of diminishing returns -- Japan's new QE experiment has had some success, but is struggling to generate sufficient inflation -- ECB's OMT programme a major success, QE not quite so much 
505 8 |a 6. International spillovers of quantitative easing -- Large, but not necessarily excessive, capital flows to emerging markets during the latter rounds of QE -- The "taper tantrum" increased concerns about the normalization of Fed policy, but it ultimately proceeded relatively smoothly -- The verdict on international spillovers from US QE -- EM policy-makers called for greater coordination and consideration of external spillovers -- 7. Criticisms and negative externalities of quantitative easing -- Some fears of an inflation surge -- Inflation has remained below targets 
500 |a Financial stability risks? 
520 |a A thorough and perspicacious analysis of auantitative easing (QE), what has become a recovery method of last resort, that will be essential reading for anyone wanting to understand central banking's role in the national economy. 
504 |a Includes bibliographical references and index. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
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830 0 |a Finance Matters. 
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