Balance sheet policy of central banks in the conditions of the exit strategy of central bank

• Authors: Irena Pyka
• Languages of publication: EN

Abstracts

EN

The study identifies the balance sheet policy of central banks differentiating it from quantitative easing policy. Additionally, the study analyses various types of quantitative easing depicting their balance sheet effects. Changes in volumes and structures of the biggest central banks are analysed on the example of quantitative easing programs applied by the Fed and ECB. A basic and direct purpose of this study refers to the specification of reasons for central banks’ maintaining the balance sheet policy and the assessment of its outcomes from the perspective of the exit strategy adopted by central banks.

Keywords

EN

Amount of money in circulation; Balance sheet of the central bank; Balance sheet policy; Credit channel; Financial market channel; Liquid reserves of central banks; Money transmission mechanism; Qualitative easing; Quantitative easing

• Publisher: Uniwersytet Ekonomiczny w Katowicach
• Journal: Journal of Economics and Management
• Year: 2015
• Volume: 21
• Pages: 110-127

Contributors

author

Irena Pyka

References

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Identifiers

ISSN

1732-1948