Template-Type: ReDIF-Article 1.0
Author-Name: Kristóf Lehmann
Author-Email: lehmannk@mnb.hu
Author-Workplace-Name: Magyar Nemzeti Bank (central bank of Hungary)
Title: International experiences with unconventional central bank instruments
Abstract: This article provides an overview of international experiences with the use of unconventional central bank instruments. The application of unconventional instruments may be justified by the existence of financial market friction, turmoil, failure or constraint, when instruments that change the size and/or composition of central bank balance sheets may be more efficient in achieving monetary policy objectives than traditional interest rate policy.
Classification-JEL: E44, E52, E58, E61
Keywords: monetary policy, unconventional instruments, financial intermediation
Journal: MNB Bulletin
Pages: 24-30
Volume: 7
Issue: 2
Year: 2012
Month: June
File-URL: http://www.mnb.hu/letoltes/lehmann.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:bullet:v:7:y:2012:i:1:p:24-30