NEW MODES OF MONETARY POLICY: QUALITATIVE EASING BY THE FED |
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| Authors: | Philipp Bagus Markus H Schiml |
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| Institution: | Universidad Rey Juan Carlos, Madrid;
Institute of Educational Economics campus |
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| Abstract: | Recent developments in monetary policy demand new analytical tools, in particular an analysis of central banks' balance sheets. During the sub-prime crisis the balance sheet of the Federal Reserve System deteriorated substantially. In this article we analyse the process of this deterioration in detail. |
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| Keywords: | Central banks' balance sheets quality of money balance sheet analysis sub-prime crisis |
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