Evolution of Monetary Policy Frameworks in the Post-crisis Environment

20 Pages Posted: 10 Jan 2020

See all articles by Anna SamarIna

Anna SamarIna

De Nederlandsche Bank

Nikos Apokoritis

De Nederlandsche Bank

Date Written: January 7, 2020

Abstract

This paper evaluates the changes in monetary policy frameworks made by 14 central banks in advanced economies over the period 2007-2018. We draw several conclusions about the evolution of their monetary policy strategies. There has been a tendency among central banks to move towards more narrowly defined inflation targets and to lower the (mid)point of the target. Additionally, transparency and commitment of central banks have been enhanced, and monetary policy toolkit has been expanded.

Keywords: advanced economies, monetary policy framework

JEL Classification: E52, E58

Suggested Citation

SamarIna, Anna and Apokoritis, Nikos, Evolution of Monetary Policy Frameworks in the Post-crisis Environment (January 7, 2020). De Nederlandsche Bank Working Paper No. 664, Available at SSRN: https://ssrn.com/abstract=3515347 or http://dx.doi.org/10.2139/ssrn.3515347

Anna SamarIna (Contact Author)

De Nederlandsche Bank ( email )

PO Box 98
1000 AB Amsterdam
Amsterdam, 1000 AB
Netherlands

Nikos Apokoritis

De Nederlandsche Bank ( email )

PO Box 98
1000 AB Amsterdam
Amsterdam, 1000 AB
Netherlands

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