Monetary Finance: Do Not Touch, or Handle with Care?

ByItai Agur, Damien Capelle, Giovanni Dell'Ariccia, Damiano Sandri

January 13, 2022

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

This paper reviews the theoretical arguments in favor and against MF and presents an empirical assessment of the risks that it may pose for inflation.

Subject: Financial crises, Financial institutions, Fiscal policy, Inflation, Monetary base, Monetary policy, Money, Prices, Sovereign bonds, Unconventional monetary policies

Keywords: fiscal and monetary coordination, Global, hard-won central bank credibility, Inflation, inflation expectation, liquidity trap, Monetary base, Monetary finance, Sovereign bonds, support well, UMP announcement, UMP program, Unconventional monetary policies

Pages:
47
Volume:
2022
DOI:
https://doi.org/10.5089/9781513592541.087
Issue:
001
Series:
Departmental Paper No 2022/001
Stock No:
MFDNTHCEA
ISBN:
9781513592541
ISSN:
2616-5333

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Departmental Papers