An analytical assessment about post-great moderation central banking policies
Author(s)
Advisor
Böke, Selin SayekDate
2012Publisher
Bilkent University
Language
English
Type
ThesisItem Usage Stats
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Abstract
In this thesis, by focusing on the unconventional monetary policy measures,
I have analytically assessed post-great moderation central banking
policies and documented the heterogeneity in calibration and design of these
policies by exposing the experiences of Japan, United States, United Kingdom
and Brazil. Moreover, by estimating a structural vector autoregressive
(SVAR) model, I have empirically investigated the macroeconomic effects of
unconventional monetary policies. Empirical findings of this study suggest
that, unconventional monetary policies have lead a temporary increase in
GDP and CPI for United States and United Kingdom while its effects are
slightly significant for Japan and diametrically insignificant for Brazil.