131st mBank-CASE Seminar Proceedings: The effects of unconventional monetary policy: what do central banks not include in their models?
In 2009, for the first time since the end of World War II, the world economy shrank. This resulted from the economic downturn in highly developed countries and surprised most economists. According to the IMF forecast published in spring 2008, GDP growth in these countries was expected to accelerate from 1.3% in 2008 to 3.8%. … Continued