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The Effects of Unconventional Monetary Policy
其他書名
What Do Central Banks Not Include in Their Models? (Skutki Niekonwencjonalnej Polityki Pieniężnej: Czego Banki Centralne Nie Uwzględniają W Swoich Modelach?).
出版SSRN, 2015
URLhttp://books.google.com.hk/books?id=s_wAzwEACAAJ&hl=&source=gbs_api
註釋In 2009, for the first time since the end of World War II, the world economy shrank. This resulted from the economic downturn in highly developed countries and surprised most economists. According to the IMF forecast published in spring 2008, GDP growth in these countries was expected to accelerate from 1.3% in 2008 to 3.8%. In fact, the growth rate was 0.1% in 2008 and minus 3.7% in 2009 (White, 2012). Another surprise was the subsequent poor performance rates reported by the major economies, i.e. the United States and the Eurozone. Five years after the acute phase of the global financial crisis their growth rates have not returned to pre-crisis levels.