Quantitative easing and financial stability

Since the global financial crisis of 2008–09 many of the leading central banks have dramatically increased the size of their balance sheets and have shifted the composition of the assets that they hold toward larger shares of longer-term securities (as well as toward assets that are riskier in other...

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Autor principal:	Woodford, Michael, 1955-
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	ESTABILIDAD ECONÓMICA CRISIS ECONÓMICA 2008 BANCOS CENTRALES POLÍTICA MONETARIA
Acceso en línea:	https://hdl.handle.net/20.500.12580/3852
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spelling	oai-20.500.12580-38522021-04-24T11:12:52Z Quantitative easing and financial stability Woodford, Michael, 1955- ESTABILIDAD ECONÓMICA CRISIS ECONÓMICA 2008 BANCOS CENTRALES POLÍTICA MONETARIA Since the global financial crisis of 2008–09 many of the leading central banks have dramatically increased the size of their balance sheets and have shifted the composition of the assets that they hold toward larger shares of longer-term securities (as well as toward assets that are riskier in other respects). While many have hailed these policies as contributing significantly to containing the degree of damage to both the countries’ financial systems and their real economies resulting from the collapse of confidence in certain types of risky assets the policies have also been and remain quite controversial. One of the concerns raised by skeptics is that such quantitative easing by central banks may have been supporting countries’ banking systems and aggregate demand only by encouraging risk-taking by ultimate borrowers and financial intermediaries in areas that increase the risk of precisely the sort of destructive financial crisis that led to the introduction of these policies in the first place. 2019-11-01T00:07:42Z 2019-11-01T00:07:42Z 2016 Artículo 978-956-7421-52-7 https://hdl.handle.net/20.500.12580/3852 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. 151-233 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	ESTABILIDAD ECONÓMICA CRISIS ECONÓMICA 2008 BANCOS CENTRALES POLÍTICA MONETARIA
spellingShingle	ESTABILIDAD ECONÓMICA CRISIS ECONÓMICA 2008 BANCOS CENTRALES POLÍTICA MONETARIA Woodford, Michael, 1955- Quantitative easing and financial stability
description	Since the global financial crisis of 2008–09 many of the leading central banks have dramatically increased the size of their balance sheets and have shifted the composition of the assets that they hold toward larger shares of longer-term securities (as well as toward assets that are riskier in other respects). While many have hailed these policies as contributing significantly to containing the degree of damage to both the countries’ financial systems and their real economies resulting from the collapse of confidence in certain types of risky assets the policies have also been and remain quite controversial. One of the concerns raised by skeptics is that such quantitative easing by central banks may have been supporting countries’ banking systems and aggregate demand only by encouraging risk-taking by ultimate borrowers and financial intermediaries in areas that increase the risk of precisely the sort of destructive financial crisis that led to the introduction of these policies in the first place.
format	Artículo
author	Woodford, Michael, 1955-
author_facet	Woodford, Michael, 1955-
author_sort	Woodford, Michael, 1955-
title	Quantitative easing and financial stability
title_short	Quantitative easing and financial stability
title_full	Quantitative easing and financial stability
title_fullStr	Quantitative easing and financial stability
title_full_unstemmed	Quantitative easing and financial stability
title_sort	quantitative easing and financial stability
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3852
work_keys_str_mv	AT woodfordmichael1955 quantitativeeasingandfinancialstability
_version_	1718346793000894464

Quantitative easing and financial stability

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