Evaluation of Unconventional Monetary Policy. Modelling Consumption, Money and Lending for UK Household Sector

      Аннотация: After The Global Financial Crisis Of 2008, The Major Central Banks Across The World Adopted The Unconventional Tools To Tackle The Liquidity Crunch Since The Policy Interest Rates Were Close To Zero. The Current Work Evaluates The Quantitative Easing Policy Adopted By The Bank Of England After The Post Crisis Period Of 2008. The Transmission Mechanism Of The Monetary Policy Described For The Pre And Post Crisis Period And The Consumption, Money And Lending Equations Have Been Jointly Modelled As An Interdependent System In a Co-Integrated Vector Autoregression (CVAR) Model For The UK Household Sector With Reference To Chrystal And Mizen (2005).

Ключевые слова: consumption, lending, Monetary Policy, Money, Quantitative Easing