Introduction

摘要

The papers in this Special Issue of Oxford Economic Papers were first presented at a conference on 'Monetary policy before, during and after the crisis' held at Heriot-Watt University in September 2011. The conference was financed mainly by the Scottish Institute for Research in Economics (SIRE), with some additional support from the Money, Macro, and Finance Research Group (MMF). The aim of the conference was, as the title implies, to bring together a group of academic and central bank economists to review issues such as whether monetary policy contributed to the crisis, and if so how; how and how well the various measures of 'unconventional monetary policy' have worked; and how the experience of the crisis will change the environment for monetary policy in the future.