Valuation Of The Countries’ Conventional And Nonconventional Monetary Policy Tools In Shrinking Periods

Description

Whether monetary policies implemented in contracting periods are pro-growth and in what situations they will be effective is a matter of debate. However, especially during and after the 2008 crisis, policy sets have become increasingly diversified, and not only traditional but also non-traditional policies have begun to be used extensively. In this study, answers to the effectiveness of monetary policy on global growth were sought both at the theoretical level and the policies examined with extensive country examples. Although policies have diversified in the final view, the effectiveness of the harmony in monetary policies on global growth can be seen in these periods.
This study examined the expansionary monetary policies implemented in countries when economies shrank and analyzed new methods, similarities, and differences. Thus, while observing the holistic picture, the effectiveness of global growth can be understood. How countries use policies, as well as policies, determines whether policies are expansionist or not. However, since the perspective on traditional monetary policy changed, especially after the 2008 crisis.