The Evolution of Theory and Practice of Monetary Policy as a Result of the Global Economic Crisis

The authors analyze the evolution of global ideas on the optimal monetary policy in the aftermath of the global economic crisis. The authors provide the basic principles of the pre-crisis monetary policy and show that after the crisis, they have not changed fundamentally. It is also argued that some lessons of the global crisis are relevant for the monetary policy of the Bank of Russia, as well as some of the classic principles of effective monetary policy.

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Year of publication:	2014
Authors:	Drobyshevsky, S. ; Trunin, P.
Published in:	Journal of the New Economic Association. - New Economic Association - NEA. - Vol. 24.2014, 4, p. 141-158
Publisher:	New Economic Association - NEA
Subject:	monetary policy \| Bank of Russia \| global economic crisis \| inflation \| quantitative easing \| credit bubble

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Extent:	application/pdf
Type of publication:	Article
Classification:	B22 - Macroeconomics ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011118410