{
  "title": "Global Impact and Challenges of Unconventional Monetary Policies",
  "publication": "Policy Papers, September 3, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/global-impact-and-challenges-of-unconventional-monetary-policies-pp4808",
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  "summary": "This paper takes stock of unconventional monetary policies (UMP) and their impact so far, and looks ahead towards exit and prospects for policy coordination.",
  "sections": [
    {
      "heading": "Scope and approach",
      "content": "- Takes stock of unconventional monetary policies (UMP) and their impact so far.\n- Looks ahead towards exit and prospects for policy coordination.\n- Synthesizes:\n  - earlier staff work on UMP,\n  - findings of a substantial and growing academic and central banking literature,\n  - further staff analysis contained in the Background Paper.\n- Where definitive conclusions cannot yet be drawn, the paper:\n  - poses the relevant questions,\n  - provides possible answers,\n  - explicitly recognizes the remaining uncertainty."
    },
    {
      "heading": "Key conclusions and remaining uncertainties",
      "content": "- Some widely accepted conclusions have emerged from the large and growing number of studies on UMP.\n- Many important questions remain unsettled because enough time has not elapsed to draw definitive conclusions.\n- The paper balances synthesis of existing evidence with identification of unresolved issues and open questions for future work."
    },
    {
      "heading": "Policy focus: exit and coordination",
      "content": "- Emphasizes considerations related to exit from UMP.\n- Examines prospects for international policy coordination in the context of UMP and their spillovers."
    },
    {
      "heading": "Evidence base and analytic contributions",
      "content": "- Builds on prior IMF staff work and on a substantial and growing body of academic and central banking literature.\n- Supplements the synthesis with further staff analysis documented in the Background Paper."
    },
    {
      "heading": "Metadata and key dates",
      "content": "- Publication date: September 3, 2013\n- Accessed date shown in citation: 9/18/2026\n\nSource: Global Impact and Challenges of Unconventional Monetary Policies\n\n---\n\n Content in this bundle\n\n- Global Impact and Challenges of Unconventional Monetary Policies; September 3, 2013\n  - Global Impact and Challenges of Unconventional Monetary Policies; September 3, 2013 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Global Impact and Challenges of Unconventional Monetary Policies; September 3, 2013 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/global-impact-and-challenges-of-unconventional-monetary-policies-pp4808"
    }
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    "Published: September 3, 2013",
    "Series: Policy Papers",
    "Takes stock of unconventional monetary policies (UMP) and their impact so far.",
    "Looks ahead towards exit and prospects for policy coordination.",
    "Synthesizes:",
    "Where definitive conclusions cannot yet be drawn, the paper:",
    "Some widely accepted conclusions have emerged from the large and growing number of studies on UMP.",
    "Many important questions remain unsettled because enough time has not elapsed to draw definitive conclusions.",
    "The paper balances synthesis of existing evidence with identification of unresolved issues and open questions for future work.",
    "Emphasizes considerations related to exit from UMP.",
    "Examines prospects for international policy coordination in the context of UMP and their spillovers.",
    "Builds on prior IMF staff work and on a substantial and growing body of academic and central banking literature.",
    "Supplements the synthesis with further staff analysis documented in the Background Paper.",
    "Publication date: September 3, 2013",
    "Accessed date shown in citation: 9/18/2026",
    "**Global Impact and Challenges of Unconventional Monetary Policies; September 3, 2013**"
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