Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world

The global financial crisis of 2008 and its aftermath have brought many new challenges for the world’s central banks. These new challenges have in turn resulted in bold experimentation—not simply particularly vigorous use of traditional policy tools but also the use of new tools or if not entirely n...

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Autores principales:	Albagli, Elías, Saravia, Diego, Woodford, Michael, 1955-
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA MONETARIA CRISIS FINANCIERA CRISIS ECONÓMICA 2008 BANCOS CENTRALES
Acceso en línea:	https://hdl.handle.net/20.500.12580/3847
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spelling	oai-20.500.12580-38472021-04-24T11:12:22Z Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world Albagli, Elías Saravia, Diego Woodford, Michael, 1955- POLÍTICA MONETARIA CRISIS FINANCIERA CRISIS ECONÓMICA 2008 BANCOS CENTRALES The global financial crisis of 2008 and its aftermath have brought many new challenges for the world’s central banks. These new challenges have in turn resulted in bold experimentation—not simply particularly vigorous use of traditional policy tools but also the use of new tools or if not entirely new tools that had seldom been invoked in the decades immediately prior to the crisis. Now that the most urgent period of the crisis is past central banks are taking stock of the lessons learned from this period of experimentation. Should the central bank’s toolkit be larger than what was regarded as sufficient during the years of the Great Moderation at least during times of crisis? Should the use of additional tools perhaps become routine aspects of the conduct of monetary policy even when the financial sector is not subject to unusual stresses? 2019-11-01T00:07:35Z 2019-11-01T00:07:35Z 2016 Artículo 978-956-7421-52-7 https://hdl.handle.net/20.500.12580/3847 eng Series on Central Banking Analysis and Economic Policies no. 24 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 01-10 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA MONETARIA CRISIS FINANCIERA CRISIS ECONÓMICA 2008 BANCOS CENTRALES
spellingShingle	POLÍTICA MONETARIA CRISIS FINANCIERA CRISIS ECONÓMICA 2008 BANCOS CENTRALES Albagli, Elías Saravia, Diego Woodford, Michael, 1955- Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world
description	The global financial crisis of 2008 and its aftermath have brought many new challenges for the world’s central banks. These new challenges have in turn resulted in bold experimentation—not simply particularly vigorous use of traditional policy tools but also the use of new tools or if not entirely new tools that had seldom been invoked in the decades immediately prior to the crisis. Now that the most urgent period of the crisis is past central banks are taking stock of the lessons learned from this period of experimentation. Should the central bank’s toolkit be larger than what was regarded as sufficient during the years of the Great Moderation at least during times of crisis? Should the use of additional tools perhaps become routine aspects of the conduct of monetary policy even when the financial sector is not subject to unusual stresses?
format	Artículo
author	Albagli, Elías Saravia, Diego Woodford, Michael, 1955-
author_facet	Albagli, Elías Saravia, Diego Woodford, Michael, 1955-
author_sort	Albagli, Elías
title	Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world
title_short	Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world
title_full	Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world
title_fullStr	Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world
title_full_unstemmed	Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world
title_sort	monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3847
work_keys_str_mv	AT albaglielias monetarypolicythorughassetmarketslessonsfromunconventionalmeasuresandimplicationsforanintegratedworld AT saraviadiego monetarypolicythorughassetmarketslessonsfromunconventionalmeasuresandimplicationsforanintegratedworld AT woodfordmichael1955 monetarypolicythorughassetmarketslessonsfromunconventionalmeasuresandimplicationsforanintegratedworld
_version_	1718346217849618432

Monetary policy thorugh asset markets: lessons from unconventional measures and implications for an integrated world

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