2017
Monetary Policy in the Twenty-First Century
SCHWEIGL, Johan and Jiří BLAŽEKBasic information
Original name
Monetary Policy in the Twenty-First Century
Authors
SCHWEIGL, Johan (203 Czech Republic, guarantor, belonging to the institution) and Jiří BLAŽEK (203 Czech Republic, belonging to the institution)
Edition
1. vyd. Brno, The Financial Law Towards Challenges of the XXI Century, p. 86-96, 11 pp. 2017
Publisher
Masarykova univerzita, Právnická fakulta
Other information
Language
English
Type of outcome
Proceedings paper
Field of Study
Legal sciences
Country of publisher
Czech Republic
Confidentiality degree
is not subject to a state or trade secret
Publication form
printed version "print"
References:
RIV identification code
RIV/00216224:14220/17:00097548
Organization
Právnická fakulta – Repository – Repository
ISBN
978-80-210-8516-9
UT WoS
000405243700005
Keywords in English
Monetary Policy; Financial Crises of 2007-2009; Euro Area Sovereign Debt Crises; Central Banks; ECB; Federal Reserve System; Bank of England; Czech National Bank; Quantitative Easing; Negative Key Rates; FX Intervention; Interbank Market; Key Rates
Links
MUNI/A/1280/2016, interní kód Repo.
Changed: 4/9/2020 11:42, RNDr. Daniel Jakubík
Abstract
V originále
The central banks carrying out monetary policy have already faced numerous extraordinary challenges in the Twenty-first century. As it is with many issues in the economy, most of these challenges are interconnected. Having to deal with the financial crises of 2007-2009, euro area sovereign debt crises, or low inflation or even deflation pressures, the central banks had to adopt certain Unconventional monetary policy tools. In this paper, after presenting a brief overview of some the recent monetary policy actions taken by the central banks, the author ponders over the following questions: What is going to happen after the inflation target is reached? Will the central banks return to using the conventional tools only? What may be the other challenges of monetary policy in the Twenty-first century? The authors come to conclusion that the monetary policy is not going to return to the one prior to 2008. The future monetary policy will be strongly influenced by the macroprudential policy and new central bank issued "digital currency".
