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NEW MODES OF MONETARY POLICY: QUALITATIVE EASING BY THE FED
Author(s) -
Bagus Philipp,
Schiml Markus H.
Publication year - 2009
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2009.01893.x
Subject(s) - quantitative easing , balance sheet , monetary policy , balance (ability) , economics , monetary economics , prime (order theory) , excess reserves , process (computing) , central bank , keynesian economics , financial system , macroeconomics , accounting , computer science , mathematics , psychology , combinatorics , neuroscience , operating system
Recent developments in monetary policy demand new analytical tools, in particular an analysis of central banks' balance sheets. During the sub‐prime crisis the balance sheet of the Federal Reserve System deteriorated substantially. In this article we analyse the process of this deterioration in detail.