Interest Rates, Prices and Liquidity

Lessons from the Financial Crisis

Business & Finance, Economics, Money & Monetary Policy, Macroeconomics
Cover of the book Interest Rates, Prices and Liquidity by , Cambridge University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: ISBN: 9781139153133
Publisher: Cambridge University Press Publication: October 27, 2011
Imprint: Cambridge University Press Language: English
Author:
ISBN: 9781139153133
Publisher: Cambridge University Press
Publication: October 27, 2011
Imprint: Cambridge University Press
Language: English

Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long as we used short-term nominal interest rates as the instrument of policy because money and other credit markets would clear at the given policy rate. However, very early on in the financial crisis interest rates effectively hit zero percent and so central banks had to resort to a wholly new set of largely untested instruments to restore order, including quantitative easing and the purchase of toxic financial assets. This book brings together contributions from economists working in academia, financial markets and central banks to assess the effectiveness of these policy instruments and explore what lessons have so far been learned.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long as we used short-term nominal interest rates as the instrument of policy because money and other credit markets would clear at the given policy rate. However, very early on in the financial crisis interest rates effectively hit zero percent and so central banks had to resort to a wholly new set of largely untested instruments to restore order, including quantitative easing and the purchase of toxic financial assets. This book brings together contributions from economists working in academia, financial markets and central banks to assess the effectiveness of these policy instruments and explore what lessons have so far been learned.

More books from Cambridge University Press

Cover of the book Biominerals and Fossils Through Time by
Cover of the book The Monied Metropolis by
Cover of the book Afterlives of Augustus, AD 14–2014 by
Cover of the book Biodiversity in Environmental Assessment by
Cover of the book Relativistic Cosmology by
Cover of the book Turing's Imitation Game by
Cover of the book Automorphic Representations and L-Functions for the General Linear Group: Volume 2 by
Cover of the book Mapping Medieval Geographies by
Cover of the book German by
Cover of the book Thinking and Deciding by
Cover of the book Capitalism with Chinese Characteristics by
Cover of the book The Cambridge Companion to Newton by
Cover of the book Synchronization in Digital Communication Systems by
Cover of the book Indigeneity and Legal Pluralism in India by
Cover of the book The Cambridge Handbook of Immunities and International Law by
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy