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2021•Unpublished venueRequires access

The U.S. monetary policy responses during Covid-19

Mingqing Yuan

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Abstract

This paper mainly discusses the U.S. monetary policy responses during Covid-19. The main contents of monetary policy incorporate prompt and powerful actions, diverse policy tools and close cooperation with fiscal policy. Through the analysis about impacts of monetary policy by IS-LM model, relevant data and literature, the conclusion is obtained that monetary policy stimulates the economic recovery in short-term, while in long-term, its effects are restricted due to tightening lockdown and the decrease in marginal propensity to consume.

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What this paper is about

This paper mainly discusses the U.S. monetary policy responses during Covid-19. The main contents of monetary policy incorporate prompt and powerful actions, diverse policy tools and close cooperation with fiscal policy. Through the analysis about impacts of monetary policy by IS-LM model, relevant data and literature, the conclusion is obtained that monetary policy stimulates the economic recovery in short-term, while in long-term, its effects are restricted due to tightening lockdown and the decrease in marginal propensity to consume.

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Available abstract

This paper mainly discusses the U.S. monetary policy responses during Covid-19. The main contents of monetary policy incorporate prompt and powerful actions, diverse policy tools and close cooperation with fiscal policy. Through the analysis about impacts of monetary policy by IS-LM model, relevant data and literature, the conclusion is obtained that monetary policy stimulates the economic recovery in short-term, while in long-term, its effects are restricted due to tightening lockdown and the decrease in marginal propensity to consume.

Key concepts: Monetary policy, Economics, Monetary economics, Coronavirus disease 2019 (COVID-19), Marginal propensity to consume, Fiscal policy, Macroeconomics, Monetary hegemony

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