Effectiveness of Unconventional Monetary Policy in the Euro Area: An Assessment Based on a Literature Survey

2017 ◽  
Vol 50 (4) ◽  
pp. 455-488
Author(s):  
Salomon Fiedler, ◽  
Isabel Hanisch, ◽  
Nils Jannsen, ◽  
Maik Wolters
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Literature Survey ◽  
Unconventional Monetary Policy

Unconventional monetary policy and the credit channel in the euro area

2019 ◽  
Vol 185 ◽  
pp. 108695 ◽  
Author(s):  
Anastasios Evgenidis ◽  
Evangelos Salachas
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Credit Channel ◽  
Unconventional Monetary Policy

scholarly journals Complexity, Uncertainty, and Monetary Policy: Can the ECB Avoid the Unconventional Becoming the ‘New Normal’?

2019 ◽  
Vol 16 (1) ◽  
Author(s):  
Christopher A. Hartwell
Keyword(s):  
Monetary Policy ◽  
Structural Change ◽  
Central Bank ◽  
Euro Area ◽  
European Central Bank ◽  
Unresolved Issue ◽  
Unconventional Monetary Policy ◽  
New Normal ◽  
European Central

Abstract Worries about Italy and the unresolved issue of euro governance – coupled with uncertainty surrounding Brexit – means that the European Central Bank (ECB) may already be facing its next crisis in the euro area. Unfortunately, the ECB is still fighting the last war, deploying the tools of unconventional monetary policy to address lingering problems while unable institutionally to address needed structural change. This paper looks at the ECB as an institution amongst institutions and shows how even more unconventional approaches will not help to bolster the economy of the euro area. Indeed, given the complexity of money, the effects of expectations, and continued uncertainty, expanding the ECB’s unconventional arsenal is likely to have deleterious consequences across Europe.

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