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Unwinding : a tale of corridors and floors
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Farmer, Roger E. A. (2017) Unwinding : a tale of corridors and floors. National Institute Economic Review, 241 (1). R70-R73. doi:10.1177/002795011724100116 ISSN 1741-3036.
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Official URL: https://doi.org/10.1177/002795011724100116
Abstract
I discuss six tools available to monetary policy makers. Three of these have been used since the inception of central banking. Three are new and were introduced in the aftermath of the 2008 financial crisis. I argue that, when the UK Monetary Policy Committee raises the interest rate, it should maintain a large balance sheet that consists of both risky and safe assets. Further, the Bank should trade the risk composition of its balance sheet to promote the stability of asset prices.
Item Type: | Journal Article | ||||||||
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Subjects: | H Social Sciences > HG Finance | ||||||||
Divisions: | Faculty of Social Sciences > Economics | ||||||||
SWORD Depositor: | Library Publications Router | ||||||||
Library of Congress Subject Headings (LCSH): | Monetary policy, Banks and banking, Central, Global Financial Crisis, 2008-2009 | ||||||||
Journal or Publication Title: | National Institute Economic Review | ||||||||
Publisher: | SAGE Publications | ||||||||
ISSN: | 1741-3036 | ||||||||
Official Date: | 31 July 2017 | ||||||||
Dates: |
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Volume: | 241 | ||||||||
Number: | 1 | ||||||||
Page Range: | R70-R73 | ||||||||
DOI: | 10.1177/002795011724100116 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Reuse Statement (publisher, data, author rights): | ** From Crossref via Jisc Publications Router. | ||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||
Date of first compliant deposit: | 31 January 2018 | ||||||||
Date of first compliant Open Access: | 31 January 2018 |
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