2011/3
Monetary Policy after the Crisis

edited by Ernest Gnan, Ryszard Kokoszczynski, Tomasz Łyziak & Robert McCauley Vienna, 2011

ISBN 978-3-902109-58-3
 
A joint publication with the National Bank of Poland
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which were grouped in three sessions addressing the following three research questions: First, what have we learnt from the crisis for the conduct of monetary policy? Second, what have we learnt from the crisis for the coordination of monetary, fiscal and macroprudential policies. And third, how did the Monetary Transmission Mechanism during the crisis function, and what can we expect for the future?
 
Opening Remarks
Marek Belka
 
Monetary Policy after the Crisis - Ten Lessons from a Fixed-Exchange-Rate Regime
Jens Thomsen and Kim Abildgren
 
Macroeconomic Policies and the Roots of the Global Crisis
Pietro Catte, Pietro Cova, Patrizio Pagano and Ignazio Visco
 
Money Market Integration and Sovereign CDS Spreads Dynamics in the New EU States
Petar Chobanov, Amine Lahiani and Nikolay Nenovsky
 
Financial asymmetries, national divergences and macroeconomic policy in a monetary union
Cristina Badarau and Grégory Levieuge
 
The Impact of the Financial Crisis on the Monetary Transmission Mechanism: A case of Poland
Tomasz Łyziak, Jan Przystupa, Ewa Stanisławska and Ewa Wróbel
 
Effectiveness of Unconventional Monetary Policies and their Impact on Long-Term Inflation Expectations
Urszula Szczerbowicz
 

Additional Info
Keywords: Fixed exchange rate regimes, Denmark, monetary policy, foreign exchange policy; global imbalances, financial crisis, monetary policy, macroprudential regulations, structural regimes; money markets, sovereign CDS spreads, EU enlargement, monetary regimes, financial crisis; euro area, financial heterogeneity, monetary and budgetary policy rules, DSGE model, optimization; Monetary transmission mechanism, emerging economy;unconventional monetary policy, inflation expectations, long-term interest rates, Libor-OIS spread
JEL Codes: E5, E52, F31; F42, F43, F47, G15; E43, F34, G10, P20; C61, E44, E58, E63; E51, G01
ISBN No.: 978-3-902109-58-3
Authors: Marek Belka, Jens Thomsen and Kim Abildgren, Pietro Catte, Pietro Cova, Patrizio Pagano and Ignazio Visco, Petar Chobanov, Amine Lahiani and Nikolay Nenovsky, Cristina Badarau and Grégory Levieuge, Tomasz Łyziak, Jan Przystypa, Ewa Stanisławska and Ewa Wróbel, Urszula Szczerbowicz
Editors: Ernest Gnan, Ryszard Kokoszcynski, Tomasz Łyziak and Robert McCauley

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