Abstract

PERROTINI HERNANDEZ, Ignacio. The federal reserve, the crisis and unconventional monetary policy. Contad. Adm [online]. 2015, vol.60, suppl.2, pp.250-271. ISSN 0186-1042.  https://doi.org/10.1016/j.cya.2015.11.001.

Conventional and non conventional monetary policy frameworks followed by the Federal Reserve, prior and after the Great Recession, respectively, are dealt with in this paper. It is also shown that quantitative or credit easing, forward guidance and the zero interest rate monetary policy, all part and parcel of the Fed's new monetary policy approach, have failed to restore long-run sustainable growth.

Keywords : Interest rate; Monetary policy; Financial crisis; Growth.

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