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• W1532852089 abstract "• Evidence suggests that the implementation of unconventional monetary policy during the recent fi nancial crisis, via credit easing and asset purchases, succeeded in reducing credit spreads and yields, thereby providing further easing of fi nancial and monetary conditions and fostering aggregate demand. • These policy measures are most effective when targeted to specifi c market failures, suffi ciently large relative to the targeted market, and clearly communicated. • The evidence must be treated with appropriate caution, since the evaluation of the effectiveness of unconventional monetary policy is subject to problems of identifi cation." @default.
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• W1532852089 date "2011-01-01" @default.
• W1532852089 modified "2023-10-02" @default.
• W1532852089 title "Unconventional Monetary Policy: The International Experience with Central Bank Asset Purchases" @default.
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