Year of Graduation
Comparative Analysis of the Effectiveness of the Monetary Policy of the European Central Bank and the Bank of Sweden (Sveriges Riksbank) in the Post Crisis Period
The global financial crisis of 2007-2009 affected monetary policies of a number of central banks. The pre-crisis instruments proved to be insufficient in overcoming the recession and in recovering the economic growth. As a result, central banks of the developed countries started to pursue the unconventional monetary policy (UMP). The effectiveness of this policy has become one of the most debatable topics in international finance during the last decade. The present research represents another attempt to analyze the effectiveness of the UMP. The efficacy of the monetary policy of the European Central Bank and the Bank of Sweden (Riksbank) was investigated upon its effect on some of the macro-level indicators, such as government bond yields and inflation.