Monetary policy after August 2007

Mark Gertler

    Research output: Contribution to journalArticle

    Abstract

    In this article, the author describes conceptually how to think about the dramatic changes in monetary policy since the sub-prime crisis of August 2007. He also discusses how to incorporate these changes and related economic concepts in the teaching of an undergraduate class in macroeconomics. A distinction is made between conventional and unconventional monetary policy, both conceptually and in practice, but most of the focus is on unconventional monetary policy and how it can be integrated within a standard macroeconomic framework. Some attention is also given to the relevance of the liquidity trap and forward guidance in monetary policy.

    Original languageEnglish (US)
    Pages (from-to)329-338
    Number of pages10
    JournalJournal of Economic Education
    Volume44
    Issue number4
    DOIs
    StatePublished - Oct 1 2013

    Fingerprint

    monetary policy
    macroeconomics
    liquidity
    Unconventional monetary policy
    Monetary policy
    Macroeconomics
    Teaching
    economics
    Economics
    Integrated
    Undergraduate
    Liquidity trap
    Subprime crisis
    Guidance

    Keywords

    • Federal Reserve
    • liquidity trap
    • monetary policy
    • quantitative easing

    ASJC Scopus subject areas

    • Economics and Econometrics
    • Education

    Cite this

    Monetary policy after August 2007. / Gertler, Mark.

    In: Journal of Economic Education, Vol. 44, No. 4, 01.10.2013, p. 329-338.

    Research output: Contribution to journalArticle

    Gertler, Mark. / Monetary policy after August 2007. In: Journal of Economic Education. 2013 ; Vol. 44, No. 4. pp. 329-338.
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