Edited by Masahiro Kawai, Peter J. Morgan and Shinji Takagi
Chapter 2: The Role and Effectiveness of Unconventional Monetary Policy
2. The role and effectiveness of unconventional monetary policy Peter J. Morgan 2.1 INTRODUCTION The global financial crisis of 2007–2009 was perhaps unique in that it saw short-term interest rates fall to nearly zero in a number of countries. Cou...
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