Abstract
When monetary policy was still largely confined to the setting of interest rates and conventional open market operations, monetary policy implementation could be considered a technical issue beyond the scope for academic analysis. This has changed with the advent of the so-called unconventional monetary policies such as Quantitative Easing (QE). The exact way of conducting such policies has a huge influence not only on financial markets, but also on the real economy and on fiscal affairs. Meanwhile, central bank communication has proven to be a major factor for the efficiency of monetary policy paths, and in this field, too, success depends to a large degree on proper implementation.
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Rövekamp, F., Bälz, M., Hilpert, H.G. (2020). Monetary Policy in East Asia: Implementation Matters. In: Rövekamp, F., Bälz, M., Hilpert, H.G. (eds) Monetary Policy Implementation in East Asia. Financial and Monetary Policy Studies, vol 51. Springer, Cham. https://doi.org/10.1007/978-3-030-50298-0_1
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DOI: https://doi.org/10.1007/978-3-030-50298-0_1
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