Identifying and estimating the effects of unconventional monetary policy: How to do it and what have we learned?
综述了在零利率下限时期识别货币政策冲击的计量挑战与解决方案，并调查了非常规货币政策对经济的实证效果，帮助学者判断是否值得阅读原文。
Summary The recent financial crisis led central banks to lower their interest rates in order to stimulate the economy until they hit the zero lower bound. How should one identify monetary policy shocks in unconventional times? Are unconventional monetary policies as effective as conventional ones? And has the monetary policy transmission mechanism changed in the zero lower bound era? This article aims to provide an overview of the econometric challenges of and the solutions to the identification of monetary policy shocks in unconventional times as well as a survey of their empirical effects on the economy.