This paper evaluates the literature on international unconventional monetary policies
(UMPs). Introducing market segmentation, limits-to-arbitrage, and time-consistent policy in …

Because inflation expectations do not immediately react one for one to changes in nominal
interest rates, central banks can also control real interest rates, at least over the short to …

They were supposed to be exceptional and temporary—hence the term 'unconventional'.
They risk becoming standard and permanent, as the boundaries of the unconventional are …

On 1 June 2018 the ECB celebrated its 20th anniversary. This paper provides a
comprehensive view of the ECB's monetary policy over these two decades. The first section …

We assess the effects of recent ECB's unconventional monetary policy (UMP) measures by
estimating a global VAR that exploits panel variation amongst all euro area economies and …

This paper evaluates the impact of the ECB's unconventional policies on bank and
government borrowing costs. We employ event-based regressions to assess and compare …

This paper studies the effects of ECB communications about unconventional monetary
policy operations on the sovereign spreads of Greece, Ireland, Italy, Portugal, and Spain …

This paper examines the effects of unconventional monetary policy measures by the
European Central Bank on nine European countries not adopting the euro with a novel …

In this chapter, after discussing the theoretical underpinnings of unconventional monetary
policy measures, we review the existing empirical evidence on their effectiveness, focusing …

The world has been struck by a mutating systemic financial crisis that is unprecedented in
terms of financial losses and fiscal costs, geographic reach, and speed and synchronization …