INTERVENTION PROGRAMS IN THE MONETARY POLICY OF THE EUROSYSTEM
This article presents the underlying legal and economic bases of so-called quantitative easing (QE) in the monetary policy of the Eurosystem. Large asset purchase programs and other intervention purchases of securities are discussed, and the risks of such policies for the long-term stability of the...
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| Format: | Article |
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| Language: | English |
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Wydawnictwo SGGW - Warsaw University of Life Sciences Press
2019-12-01
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| Series: | Polityki Europejskie, Finanse i Marketing |
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| Online Access: | https://pefim.sggw.edu.pl/article/view/1079 |
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| collection | DOAJ |
| description | This article presents the underlying legal and economic bases of so-called quantitative easing (QE) in the monetary policy of the Eurosystem. Large asset purchase programs and other intervention purchases of securities are discussed, and the risks of such policies for the long-term stability of the financial system are also addressed. It is noted that the non-standard financial instruments which are used in the Eurozone require close monitoring by Polish government financial institutions. This would help Poland access the full range of financial instruments that could be used to neutralize any unfavorable developments in the national financial sector and in the Polish economy which might occur in a global economic crisis. The research is based on analysis of European Central Bank documents and analytical studies of the Polish National Bank concerning non-standard instruments of financial policy. |
| format | Article |
| id | doaj-art-a9a256e24080459d82f8ab60f68976cd |
| institution | Kabale University |
| issn | 2081-3430 2544-0640 |
| language | English |
| publishDate | 2019-12-01 |
| publisher | Wydawnictwo SGGW - Warsaw University of Life Sciences Press |
| record_format | Article |
| series | Polityki Europejskie, Finanse i Marketing |
| spelling | doaj-art-a9a256e24080459d82f8ab60f68976cd2025-02-03T01:55:37ZengWydawnictwo SGGW - Warsaw University of Life Sciences PressPolityki Europejskie, Finanse i Marketing2081-34302544-06402019-12-0122(71)INTERVENTION PROGRAMS IN THE MONETARY POLICY OF THE EUROSYSTEMThis article presents the underlying legal and economic bases of so-called quantitative easing (QE) in the monetary policy of the Eurosystem. Large asset purchase programs and other intervention purchases of securities are discussed, and the risks of such policies for the long-term stability of the financial system are also addressed. It is noted that the non-standard financial instruments which are used in the Eurozone require close monitoring by Polish government financial institutions. This would help Poland access the full range of financial instruments that could be used to neutralize any unfavorable developments in the national financial sector and in the Polish economy which might occur in a global economic crisis. The research is based on analysis of European Central Bank documents and analytical studies of the Polish National Bank concerning non-standard instruments of financial policy. https://pefim.sggw.edu.pl/article/view/1079central bankbank centralnyquantitative easingluzowanie ilościowelarge scale asset purchase programs.duży program skupu aktywów. |
| spellingShingle | INTERVENTION PROGRAMS IN THE MONETARY POLICY OF THE EUROSYSTEM Polityki Europejskie, Finanse i Marketing central bank bank centralny quantitative easing luzowanie ilościowe large scale asset purchase programs. duży program skupu aktywów. |
| title | INTERVENTION PROGRAMS IN THE MONETARY POLICY OF THE EUROSYSTEM |
| title_full | INTERVENTION PROGRAMS IN THE MONETARY POLICY OF THE EUROSYSTEM |
| title_fullStr | INTERVENTION PROGRAMS IN THE MONETARY POLICY OF THE EUROSYSTEM |
| title_full_unstemmed | INTERVENTION PROGRAMS IN THE MONETARY POLICY OF THE EUROSYSTEM |
| title_short | INTERVENTION PROGRAMS IN THE MONETARY POLICY OF THE EUROSYSTEM |
| title_sort | intervention programs in the monetary policy of the eurosystem |
| topic | central bank bank centralny quantitative easing luzowanie ilościowe large scale asset purchase programs. duży program skupu aktywów. |
| url | https://pefim.sggw.edu.pl/article/view/1079 |