TY - UNPD A1 - Issing, Otmar T1 - Monetary policy and balance sheet adjustment T2 - SAFE white paper series ; 15 N2 - In the wake of the Global Financial Crisis that started in 2007, policymakers were forced to respond quickly and forcefully to a recession caused not by short-term factors, but rather by an over-accumulation of debt by sovereigns, banks, and households: a so-called “balance sheet recession.” Though the nature of the crisis was understood relatively early on, policy prescriptions for how to deal with its consequences have continued to diverge. This paper gives a short overview of the prescriptions, the remaining challenges and key lessons for monetary policy. T3 - SAFE white paper series - 15 KW - recession KW - monetary policy KW - balance sheet adjustment Y1 - 2014 UR - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/34325 UR - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-343256 UR - http://safe-frankfurt.de/de/policy-center/publikationen/details/article/monetary-policy-and-balance-sheet-adjustment.html EP - 7 PB - SAFE CY - Frankfurt am Main ER -