unconventional monetary policies

Publication date: 18 Dec 2017 | Publication type: NIESR Discussion Paper | Theme: Macroeconomics | Authors: Turner, P | JEL classification: E43, E52, E58, F41, G28 | NIESR discussion paper number: 484
Recent history suggests that raising interest rates higher than warranted by macroeconomic prospects would not be the right policy for financial stability. The significant tightening of monetary policies in the advanced economies from mid-2004 to mid-2006 failed to stop increased risk-taking in the...