Discover the differences, benefits, and impacts of fiscal and monetary policies on economic stability and growth.

This paper evaluates the popular view that quantitative easing exerts greater international spillovers than conventional monetary policies. To distinguish the effects of these policies, we use a term ...

The eurozone has been suffering from record low inflation for several months now. Last October the inflation rate dropped below 1 percent and has remained there ever since. This low pace of price ...

One of the most pressing questions facing central bankers today concerns the role of monetary policy in helping to secure financial stability. For two decades before the 2008–09 global financial ...

Central banks should prepare – both legally and operationally – to carry out direct transfers to households when conventional monetary policy fails. Recent research shows that stimulus payments would ...