Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit? [electronic resource] : A Review of the Experience so Far, Ishi, Kotaro.

Ishi, Kotaro.
Washington, D.C. : International Monetary Fund, 2011.
IMF eLibrary
IMF Working Papers; Working Paper No. 11/145.
IMF Working Papers; Working Paper No. 11/145
Government document
1 online resource (70 p.)
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What is the case for adding the unconventional balance sheet policies used by major central banks since 2007 to the standard policy toolkit? The record so far suggests that the new liquidity providing policies in support of financial stability generally warrant inclusion. As the balance sheet policies aimed at macroeconomic stability were used only by a small number of highly credible central banks facing a lower bound constraint on conventional interest rate policy, they are not relevant for most central banks or states of the world. Best practices of these policies are documented in this paper.
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Fujita, Kenji.
Ishi, Kotaro.
Stone, Mark R.
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