18.5 Νομισματική Πολιτική: Μηδενικό Κατώτατο Όριο, Ποσοτική Χαλάρωση, Εμπροσθοβαρής Καθοδήγηση και «Χρήμα εξ’ Ουρανού»

Βιβλιογραφία

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Further Reading List

Altavilla C., Giacomini R., Ragusa G. (2014) Anchoring the yield curve using survey expectations, Working Paper Series, no 1632, ECB.

Airaudo M., Nisticò S., Zanna L.-F. (2015) Learning, Monetary Policy and Asset Prices, IMF Working Paper No. 15/16.

Araujo A., Schommer S. (2013) Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints, American Economic Journal: Macroeconomics, Vol. 7, No. 1, pp. 1-43.

Armstrong A., Caselli F. (2015) Monetary policy at the zero lower bound, VOX.

Ashworth J., Baker M., Banerjee R., Smaghi L.B., Broadbent B., Brunnermeier M., Cecchetti S., El-Erian M., Frankel J., Gerlach S., Goodhart C., Hofmann B., Pill H., Posen A., Reichlin L., Sannikov Y., Woodford M., Wyplosz C. (2013) Is Inflation Targeting Dead? Central Banking After the Crisis, CEPR.

Auerback M. (2012) The ECB is Engaging in Massive QE, Credit Writedowns.

Ball L. (2012) Ben Bernanke and the zero bound, Vox.

Bank of England (2013) Monetary policy trade-offs and forward guidance, Bank of England.

Bean C. (2013) Panel Remarks: Global Aspects of Unconventional Monetary Policies, Speech, Speech given by Charlie Bean, Deputy Governor for Monetary Policy, Bank of England, at the Federal Reserve Bank of Kansas City Economic Policy Symposium, Jackson Hole, Wyoming, 24 August.

Beckworth D. (2011) Central Banks Still Have Much Ammunition, EconoMonitor.

Benhabib J., Schmitt-Grohe S., Uribe M. (2002) Avoiding Liquidity Traps, Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 535-563, June.

Bernanke B.S. (2010) The Economic Outlook and Monetary Policy, Federal Reserve Bank.

Boeckx J., Dossche M., Peersman G. (2014) Effectiveness and Transmission of the ECB’s Balance Sheet Policies CESifo Working Paper No. 4907.

Black J., Wishart I. (2014) How Draghi Seeking QE Trade-Off May Find Austerity Trap, Bloomberg.

Blanchard O. (2013) Monetary Policy Will Never Be the Same, IMF DIRECT.

Blinder A.S. (2010) Quantitative Easing: Entrance and Exit Strategies by, Princeton University CEPS Working Paper No. 204.

Blinder A.S. (2013) Exit to What? The Status Quo Ante or Some New Normal? Geneva Conference on: “Exit Strategies: Time to Think About Them”, Geneva Conference.

Blinder A., Jordan T.J. (2013) Exit Strategy – Geneva Reports on the World Economy 15, CEPR.

Bluwstein K., Canova F. (2015) Beggar-thy-neighbor? The international effects of ECB unconventional monetary policy measures, Center for Economic Policy Research.

Borio C., Disyatat P. (2009) Unconventional monetary policies: an appraisal, BIS.

Bossone B., Fazi T., Wood R. (2014) Helicopter money: The best policy to address high public debt and deflation, VOX, CEPR’s Policy Portal.

Bossone B. (2013) Unconventional monetary policies revisited (Part I), VOX.

Bossone B. (2013) Unconventional monetary policies revisited (Part II), VOX.

Buiter W.H. (2004) Helicopter Money Irredeemable fiat money and the liquidity trap or: is money net wealth after all? CEPR.

CEPR (2013) Forward Guidance Perspectives from Central Bankers, Scholars and Market Participants, VoxEU.org.

Claeys G., Darvas Z. (2015) The Effects of Ultra-Loose Monetary Policies on Inequality – Issue 2015/09, Bruegel.

Crafts N. (2013) Escaping liquidity traps: Lessons from the UK’s 1930s escape, VOX.

Dale S., Talbot J. (2013) Forward guidance in the UK, VOX.

De Grauwe P., Ji Y. (2013) Fiscal implications of the ECB’s bond-buying programme, VOX.

Den Haan W. (2013) Forward Guidance: A new Vox eBook, VOX

Dudley W.C. (2012) The recovery and monetary policy, BIS.

Dudley W.C. (2013) Lessons at the Zero Bound: The Japanese and U.S. Experience, Federal Reserve Bank of New York.

ECB (2011) The Implementation of Monetary Policy in the Euro Area, General Documentation on Eurosystem Monetary Policy Instruments and Procedures.

Filardo A., Hofmann B. (2014) Forward guidance at the Zero Lower Bound, BIS Quarterly Review, Bank for International Settlements, March.

Fratzscher M., Duca L.M., Straub R. (2014) ECB Unconventional Monetary Policy Actions: Market Impact, international Spillovers and Transmission Channels, 15th Jacques Polak Annual Research Conference.

Gilchrist S., López-Salido J.D., Zakrajsek E. (2013) Monetary Policy and Real Borrowing Costs at the ZLB, NBER Working Paper 20094.

Grenville S. (2013) Helicopter money, VOX..

Harrison E. (2011) What are the differences between QE1, QE2 and QE3? Credit Writedowns.

Harrison E. (2011) ALERT: Bernanke orders an Operation Twist QE Code Red, Credit Writedowns.

Harrison E. (2012) Are the Federal Reserve and other central banks printing money to solve this crisis? Credit Writedowns.

Harrison E. (2012) Chart of the Day: Monetary Transmission Mechanisms, Credit Writedowns.

Harrison E. (2012) The Federal Reserve cannot create permanent wealth through quantitative easing, Credit Writedowns.

Harrison E. (2013) Forward guidance, time inconsistency, and monetary policy, Credit Writedowns.

Harrison E. (2013) The deflationary forward guidance Threshold, Credit Writedowns.

Harrison E. (2013) Yellen’s rule-based approach to forward guidance is coming, Credit Writedowns.

Harrison E. (2013) QE will end this year after tapering off in June, Credit Writedowns.

Harrison E. (2013) The limits of monetary policy, part 1, Credit Writedowns.

Harrison E. (2013) The limits of monetary policy, part 2, Credit Writedowns.

Hart M. (2011) Scope and Limits of ECB Purchases: Does Central Bank Capital Matter? Roubini.

Hunter C. (2011) Setting the stage for QE III? EconoMonitor.

Hugh E. (2014) Abenomics – What Could Possibly Go Wrong? Credit Writedowns.

Jensen N. (2013) Heads or tails? QE: Euthanasia of the economy? Credit Writedowns.

Joyce M., Miles D., Scott A., Vayanos D. (2013) Quantitative Easing and Unconventional Monetary Policy – an Introduction, The Economic Journal, (122) (November), F271–F288, Doi: 10.1111/j.1468-0297.2012.02551.x.

Korinek A., Simsek A. (2016) Liquidity Trap and Excessive Leverage, American Economic Review, 106(3): 699-738, DOI: 10.1257/aer.20140289.Top of Form.

Krugman P. (1998) It’s Baaack! Japan’s Slump Return of the Liquidity Trap, MIT.

Krugman P. (2013) The conscience of a liberal: Monetary Policy in A Liquidity Trap, The New York Times.

Krugman P. (2013) The conscience of a liberal: A Note on Hysteresis and Monetary Policy, The New York Times.

Kuroda H. (2013) Japan’s Unconventional Monetary Policy and Initiatives toward Ensuring Stability of the Global Financial System, Remarks at an Economic Policy Symposium Held by the Federal Reserve Bank of Kansas City.

Mankiw N.G. (2012) The Liquidity Trap may soon be over, Greg Mankiw’s Blog.

Marc to Marcket (2012) Great Graphic: Central Bank Balance Sheets, available at: http://www.marctomarket.com/2012/12/great-graphic-central-bank-balance.html.

Manetta M., The RGE research team (2011) Central Bank on Wire, Roubini Global Economics.

Matheson T., Stavrev E. (2013) The Great Recession and the Inflation Puzzle WP/13/124, IMF.

McCulley P., Pozsar Z. (2012) Does Central Bank Independence Frustrate the Optimal Fiscal-Monetary Policy Mix in a Liquidity Trap?

McCulley P., Pozsar Z. (2013) Helicopter Money: Or How I Stopped Worrying and Love Fiscal-Monetary Cooperation, Global Society of Fellows.

McKinsey Global Institute (2013) QE and ultra-low interest rates: Distributional effects and risks, McKinsey Global Institute.

Meltzer A.H. (2013) Quantitative Quicksand, Project Syndicate.

Miller M., Driffill J. (2011) When markets freeze: Tobin’s q and QE, VoxEU.

Muellbauer J., Murata K. (2011) Mistaken monetary policy lessons from Japan? VOX.

Nowakowski D. (2011) Monetary Policy to the Rescue? Don’t Expect Miracles, Roubini Global Economics.

Nowakowski D. (2011) Copying Sweden, Fed Tries to Avoid Becoming Like Japan, EconoMonitor.

Nowakowski D. (2014) QE, Asset Reflation and the Wealth Effect, Roubini Global Economics.

Svensson L.E.O. (2000) The Zero Bound in an Open Economy: A Foolproof Way of Escaping from a Liquidity Trap, Working Paper 7957, NBER.

Svensson L.E.O. (2015) Forward Guidance, Stockholm School of Economics.

Palley T.I. (2014) Monetary policy in the US and EU after quantitative easing: the case for asset based reserve requirements (ABRR), Real-World Economics Review, Issue No. 68. pp. 2-10.

Praet P. (2013) Forward guidance and the ECB, VOX.

Reichlin L., Turner A., Woodford M. (2013) Helicopter money as a policy option, VOX.

Roache S.K., Rousset M.V. (2013) Unconventional Monetary Policy and Asset Price Risk, WP/13/190. IMF.

Rosa B., Jones P. (2013) Faster QE Exit, Steeper Yield Curves—For Now, Roubini Global Economics.

Rosa B. (2014) BoE Forward Guidance Take 2: Referencing Wage Growth? Roubini Global Economics.

Roubini N. (2013) Why the Chorus of QE Skeptics Is Growing, Roubini Global Economics.

Roubini N. (2013) Ten QE Questions, Project Syndicate.

Roubini N., Rosa B., Prajakta B.  (2013) Liquidity Traps Cast Long Shadows: When and How Fast Will the Fed Normalize Interest Rates? Government Bonds/Interest Rates, Roubini Global Economics.

Odendahl C., Oman W. (2013) The European Central Bank of Japan? Disinflation Is Looming, Roubini Global Economics.

Orphanides A. (2013) BIS Working Papers No 435 Is monetary policy overburdened? BIS.

Wolff G.B. (2014) OMT ruling: Karlsruhe says no, refers to ECJ and suggests ECB should always be preferred creditor – a number of quick observations on this ruling are in order, Bruegel.