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I work here http://xtube.in.net xtube com Before the financial crisis and recession, unconventional monetary policies were still mostly theoretical concepts on the drawing board, untested on the battlefield.  In practice, they have given central banks such as the Federal Reserve much-needed tools when the traditional policy interest rate is near zero.  We have learned a great deal over the past few years about their effectiveness, but also about some of their limitations.  As I have discussed, in normal times, certain types of unconventional policies are best mothballed and kept in reserve in case needed.  But, more importantly, the experience with these policies means that if another situation arises where we need to call on these tools, we are ready and prepared to do so.

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