Assessing monetary policies in the Eurozone, U.S., U.K. and Japan: new evidence from the post-crisis period
Document Type
Article
Publication Title
Applied Economics
Publication Date
12-20-2018
Abstract
The global financial crisis of 2007 changed the way central banks implement monetary policies. This article examines the transmission of both conventional and unconventional monetary policies for the Eurozone, the U.S., the U.K. and Japan. We additionally study the impact of quantitative easing on financial stability and real economic activity. Our results suggest that conventional monetary policy pass-through channels were distorted significantly in the post-crisis period. We further argue that quantitative easing reduced the long-term rates and averted a further downturn in economic activity. Specifically, the series of central banks quantitative easing contributed to the stimulation of economic activity and restored the traditional financial markets’ function.
Volume
50
Issue
59
First Page
6481
Last Page
6500
DOI
10.1080/00036846.2018.1486026
Recommended Citation
Salachas, E., Laopodis, N., & Kouretas, G. (2018). Assessing monetary policies in the Eurozone, U.S., U.K. and Japan: new evidence from the post-crisis period. Applied Economics, 50 (59), 6481-6500. https://doi.org/10.1080/00036846.2018.1486026
ISSN
00036846
E-ISSN
14664283
