Time for unorthodox monetary policy.
This column explains the logic behind a radically new form of monetary policy – a new central-bank tool for stabilising the credit cycle. By buying bank stocks and credit instruments at the bottom of the cycle and selling at the top, the new policy could moderate the boom-and-bust credit cycle indep...
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| Format: | Journal article |
| Language: | English |
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CEPR
2008
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| _version_ | 1797050582647701504 |
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| author | Muellbauer, J |
| author_facet | Muellbauer, J |
| author_sort | Muellbauer, J |
| collection | OXFORD |
| description | This column explains the logic behind a radically new form of monetary policy – a new central-bank tool for stabilising the credit cycle. By buying bank stocks and credit instruments at the bottom of the cycle and selling at the top, the new policy could moderate the boom-and-bust credit cycle independently of interest rate policy. The Fed action on 25 November is a good step in this direction. |
| first_indexed | 2024-03-06T18:07:18Z |
| format | Journal article |
| id | oxford-uuid:01dc5c64-c004-4583-9d7c-5956c844ecb1 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T18:07:18Z |
| publishDate | 2008 |
| publisher | CEPR |
| record_format | dspace |
| spelling | oxford-uuid:01dc5c64-c004-4583-9d7c-5956c844ecb12022-03-26T08:37:17ZTime for unorthodox monetary policy.Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:01dc5c64-c004-4583-9d7c-5956c844ecb1EnglishDepartment of Economics - ePrintsCEPR2008Muellbauer, JThis column explains the logic behind a radically new form of monetary policy – a new central-bank tool for stabilising the credit cycle. By buying bank stocks and credit instruments at the bottom of the cycle and selling at the top, the new policy could moderate the boom-and-bust credit cycle independently of interest rate policy. The Fed action on 25 November is a good step in this direction. |
| spellingShingle | Muellbauer, J Time for unorthodox monetary policy. |
| title | Time for unorthodox monetary policy. |
| title_full | Time for unorthodox monetary policy. |
| title_fullStr | Time for unorthodox monetary policy. |
| title_full_unstemmed | Time for unorthodox monetary policy. |
| title_short | Time for unorthodox monetary policy. |
| title_sort | time for unorthodox monetary policy |
| work_keys_str_mv | AT muellbauerj timeforunorthodoxmonetarypolicy |