Unconventional monetary policy
ECB's Mersch cautions against ‘extreme’ policy measures
Central bank cannot fulfil mandate with “mathematical equations”, says Mersch
Unconventional monetary policy should be supported on structural and fiscal fronts – ECB paper
Authors examine the effects of supply- and demand-side policies
Riksbank paper looks to medieval Europe for ZLB solution
“Gesell tax” on holdings of cash could help central bankers overcome the zero lower bound
Monetary expansion: Is the sky the limit?
Bank of Mexico deputy assesses the pros and cons of unconventional monetary policies
Helicopters bearing gifts
As QE and negative rates run out of room, helicopter money could represent a last resort
Inflation expectations are part of QE transmission mechanism – BoE paper
Firms’ inflation expectations increase in response to QE, research finds
Money illusion may not be irrational – BIS paper
Borio and Zabai suggest reasons for people's focus on nominal effects
IMF staff suggest using tiers if CNB cuts rates below zero
Fund encourages Czech National Bank to prepare for ‘eventual exit’ from exchange rate commitment
IMF staff warn BoJ against unconventional monetary policies
Fund staff recommend more conventional forms of stimulus
Yellen offers helicopter money cautious support
Policy should only be used in "extreme" circumstances, Fed chair says
Tiberius’s experiences with zero interest rates in 33 AD
Can the ECB learn from policies used in ancient history?
Outflows during normalisation proportional to earlier inflows, paper warns
Working paper examines the effects unconventional monetary policies have on capital flows
BoJ sees operational issues dampen negative rate effect
Combination of negative rates and QQE helping push rates lower and prompting portfolio rebalancing
Kuroda: Negative rates having ‘visible’ impact on JGB yields
Bank of Japan governor Haruhiko Kuroda says rates are falling across the yield curve
Viñals supports negative interest rates in current climate
Financial counsellor believes negative rates are helpful in current economic climate
Mexican deputy calls for ‘proper consideration’ of peers
Calafell stresses need for improved policy communication
Senior IMF figures support nominal negative rates
IMF staffers "tentatively conclude" negative nominal rates help stimulus
Visco warns of danger of revising wages down if inflation undershoots predictions
Downward revisions of pay could have serious consequences, Italian governor says
Praet says ECB policy is working
Policy must be assessed “counterfactually”, ECB executive board member says
Eurozone monetary policies ‘virtually exhausted’, Dutch central bank head says
Politicians must implement structural reforms, Knot says
Norges Bank willing to consider move into negative territory
Central bank cuts rates to 0.5% and signals further action likely
TLTRO II may reflect renewed ECB focus on transmission, analysts say
Draghi refused to rule out ‘helicopter drops’ but difficulties may be insurmountable
Carney airs scepticism on negative rates
Bank of England governor warns they could result in a ‘zero sum game’
German constitutional court to rule on OMT ‘in a few months’
OMT programme “in principle available”, but conditions for its use do not currently exist, Mersch says