Whether monetary policies implemented in contracting periods are pro-growth and in what situations they will be effective is a matter of debate. However, especially during and after the 2008 crisis, policy sets have become increasingly diversified, and not only traditional but also non-traditional policies have begun to be used extensively. In this study, answers to the effectiveness of monetary policy on global growth were sought both at the theoretical level and the policies examined with extensive country examples. Although policies have diversified in the final view, the effectiveness of the harmony in monetary policies on global growth can be seen in these periods.
KeywordsGrowthMonetary Policy ToolsTraditional and Nontraditional Policies
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