FUNCAS STUDIES

List of Contributors Introduction and overview PART I THE “NEW” MONETARY POLICIES IN THE ADVANCED ECONOMIES Ensuring the transmission of the policy signal: A review of the ECB’s monetary policy from 2007 to 2013 / Peter Praet, Philippine Cour-Thimann and Florian Heider UK property market: Experience, risks and policy response / Jon Cunliffe, James Benford, Oliver Burrows and Tracey Wheeler Monetary policy after the Great Recession: Japan’s experience / Kazuo Momma and Shuji Kobayakawa An overview of recent changes in the Federal Reserve’s monetary policy / J. David López-Salido PART II SIMILARITIES AND DIFFERENCES AMONG THE POLICIES OF THE FOUR BIG CENTRAL BANKS The challenges for monetary policy in advanced economies after the Great Recession / Juan Carlos Berganza, Ignacio Hernando and Javier Vallés Unconventional monetary policies – recent experiences, impact, and lessons / Ángel Ubide PART III BALANCE OF RISKS AND THE INTERACTIONS WITH OTHER POLICIES Post-crisis monetary policy: Balance of risks / Jaime Caruana, Andrew Filardo and Boris Hofmann Macroprudential policy after the financial crisis / José María Roldán Monetary policy in emerging countries, international spillovers, and international monetary cooperation / Sonsoles Gallego and Pilar L’hotellerie-Fallois PART IV OPEN QUESTIONS IN THE EURO AREA Virtual unconventional policies. The euro area recovery and the role of ECB policy / Huw Pill Addressing weak inflation: The ECB’s shopping list / Gregory Claeys, Zsolt Darvas, Silvia Merler and Guntram B. Wolff