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摘要：After the outbreak of the financial crisis, unconventional monetary policy for the first time stood on the historical stage worldwide. The world's major economies in the dilemma of the failure of conventional monetary policy regarded the unconventional monetary policy as a “killer” to save their economies. In the aspect of commitment effect, the Federal Reserve made an unconditional commitment to ensure that interest rates will continue to maintain interest rates at zero borders; while the Bank of Canada made a conditional commitment that before the second quarter of 2010, interest rates will continue to remain at 0.25% of the low place. In the aspect of quantitative easing policy, the Federal Reserve announced in March 2009 to purchase 300 billion U.S. dollars in the long-term bonds, the Bank of Japan broke the long-term debt limit to buy 1.2 trillion yen per month set in October 2002 (Bank of Japan, 2005), reached to 1.4 trillion yen in 2008 December, to March 2009, announced the monthly purchases of 1.8 trillion yen. In addition, the Bank of England also announced the purchase of 75 billion U.S. dollars of government bonds (Barrell, Fic and Liadze, 2009). In the aspect of qualitative easing as well as special loans, the Federal Reserve, Bank of Japan, the European Central Bank, Bank of England and Bank of Canada have used a lot of unconventional monetary tools. But the world's major developed economies did not use the tools in the foreign exchange easing of unconventional monetary policy.

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论文题目：代写MACROECONOMIC THEORY
论文语言：英语论文 English
论文专业：Business Economics
字数：1500
学校国家：英格兰 England
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您的学校：University of bradford , top 52 in UK
论文用于：BA assignment 本科课程作业
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Part I
A critical statement about the policy response to the economic crisis

1. Introduction
After the outbreak of the financial crisis, unconventional monetary policy for the first time stood on the historical stage worldwide. The world's major economies in the dilemma of the failure of conventional monetary policy regarded the unconventional monetary policy as a “killer” to save their economies. In the aspect of commitment effect, the Federal Reserve made an unconditional commitment to ensure that interest rates will continue to maintain interest rates at zero borders; while the Bank of Canada made a conditional commitment that before the second quarter of 2010, interest rates will continue to remain at 0.25% of the low place. In the aspect of quantitative easing policy, the Federal Reserve announced in March 2009 to purchase 300 billion U.S. dollars in the long-term bonds, the Bank of Japan broke the long-term debt limit to buy 1.2 trillion yen per month set in October 2002 (Bank of Japan, 2005), reached to 1.4 trillion yen in 2008 December, to March 2009, announced the monthly purchases of 1.8 trillion yen. In addition, the Bank of England also announced the purchase of 75 billion U.S. dollars of government bonds (Barrell, Fic and Liadze, 2009). In the aspect of qualitative easing as well as special loans, the Federal Reserve, Bank of Japan, the European Central Bank, Bank of England and Bank of Canada have used a lot 英国本科经济学论文of unconventional monetary tools. But the world's major developed economies did not use the tools in the foreign exchange easing of unconventional monetary policy.

2. Discussion
2.1 Implementation of unconventional monetary policy
2.2 Effects of implementing unconventional monetary policy

Part II
Critical evaluation using theory and evidence
3. Theoretic evaluation

4. Conclusion

References
Bank of Japan (2005) ‘Outlook for Economic Activity and Prices, October 2005’.
Barrell, R., Fic, T. and Holland, D. (2009) ‘Evaluating policy responses to the financial crisis’, National Institute Economic Review, no.207, January
Barrell, R., Fic, T. and Liadze, I. (2009) ‘Fiscal policy effectiveness in the banking crisis’, National Institute Economic Review, no.207, January
Barrell, R. and Kirby, S. (2010) ‘Fiscal policy and government spending’ National Institute Economic Review, no.210, October
Friedman, M. (1997) ‘John Maynard Keynes’, Federal Reserve Bank of Richmond Economic Quarterly, 83(2)
Heineman, F. (2008) ‘Escaping from a combination of liquidity trap and credit crunch’, CESifo Working Paper no.2450, Munich: Institute for Economic Research
Ishi, K., Stone, M. and Yehoue, E.B. (2009) ‘Unconventional Central Bank Measures for Emerging Economies’, IMF Working Paper No. 09/226.
Meier, A. (2009) ‘Panacea, Curse, OR Nonevent? Unconventional Monetary Policy in the United Kingdom’, IMF Working Paper
Shirakawa, M. (2004) ‘Comment to “Securing the Peace after a Truce in the War on Inflation’, by Vincent R. Reinhart” in the 11th International Conference sponsored, Monetary and Economic Studies, 22(S-1): 208-215 https://www.51lunwen.org/ukthesis/
Svensson, L (2003) ‘Escaping a liquidity trap and de本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。