The QuarTerly J ournal of ausTrian economics Volume 24 | N o . 2 | 383–393 | summer 2021 www.QJae.org Quart J Austrian Econ (2021) 24.2:383–393 https://qjae.scholasticahq.com/ doi: 10.35297/qjae.010106 Creative Commons CC BY 4.0 License 383 Book Review Monetary Policy after the Great Recession: The Role of Interest Rates Arkadiusz Sieron New York: Routledge, 2020, xviii + 230 pp. Nikolay Gertchev* I n his second book, Arkadiusz Sieron, Assistant Professor at the University of Wroclaw, embarks on an ambitious task: to investigate the failure of expansionary monetary policy to address the challenges of the 2008–09 Great Recession. An introduction, seven chapters and a fnal synopsis make up the main body of a text that spreads over 168 pages. Two short six-page appendices comment upon the likely future course of monetary policy and on the ftness of interest-rate cuts to respond to the COVID-19 crisis. An impressive forty-page bibliography, or about six hundred references, and a ten-page index close the book. The frst chapter examines the conventional “interest rate” channel of monetary policy. Sieron shows that it was inefective to spur economic growth after the Great Recession and attributes its * Nikolay Gertchev (ngertchev@gmail.com) holds a PhD in economics from the University of Paris 2 Panthéon-Assas and currently lives in Belgium, where he works for an international organization.