Doubling your monetary base and surviving: some international experience
Abstract: The authors examine the experience of selected central banks that have used large-scale balance-sheet expansion, frequently referred to as ?quantitative easing,? as a monetary policy instrument. The case studies focus on central banks responding to the recent financial crisis and Nordic central banks during the banking crises of the 1990s; others are provided for comparison purposes. The authors conclude that large-scale balance-sheet increases are a viable monetary policy tool provided the public believes the increase will be appropriately reversed.
File(s): File format is application/pdf https://files.stlouisfed.org/files/htdocs/publications/review/10/11/Anderson.pdf
Provider: Federal Reserve Bank of St. Louis
Part of Series: Review
Publication Date: 2010