Polityka pieniężna Europejskiego Banku Centralnego a zagrożenie deflacją w Unii Europejskiej

• Authors: Jan L. Bednarczyk
• Languages of publication: PL

Abstracts

PL

The aim of the paper is to assess whether the range of non-standard measuresundertaken by the European Central Bank between 2014–2015 may turn outinsufficient to stimulate demand and overcome deflation. The causes for the presentsituation are the weaknesses of mechanisms transmitting monetary policyimpulses to the economy resulting from: 1) pessimistic expectations withinEurozone regarding economic growth, 2) lack among policy tools of any forwardguidance for the desirable mid-term level of crucial real magnitudes, 3) lack ofsufficient flexibility in the inflation target policy, 4) the weakness of the securitiespurchase programmes which exerted only a temporary effect on the ECB’sbalance sheet and monetary base

Keywords

PL

non-standard monetary policy measures, quantitative easing, inflationexpectations

• Publisher: Szkoła Główna Handlowa w Warszawie
• Journal: Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace
• Year: 2015
• Volume: 3
• Issue: 1
• Pages: 89-102

Dates

published

2015-12-12

Contributors

author

Jan L. Bednarczyk

Identifiers

DOI

10.33119/KKESSiP.2015.1.3.6