Amplification Effects and Unconventional Monetary Policies

Cécile Bastidon (), Nicolas Huchet () and Philippe Gilles
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Philippe Gilles: Université du Sud-Toulon Var, France

Theoretical and Applied Economics, 2012, vol. XVIII(2012), issue 2(567), 13-30

Abstract: Global financial crises trigger off amplification effects, which allow relatively small shocks to propagate through the whole financial system. For this reason, the range of Central banks policies is now widening beyond conventional monetary policies and lending of last resort. The aim of this paper is to establish a rule for this practice. The model is based on the formalization of funding conditions in various types of markets. We conduct a comprehensive analysis of the “unconventional monetary policies”, and especially quantify government bonds purchases by the Central bank.

Keywords: unconventional monetary policies; amplification effects; central banking; crisis management. (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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Working Paper: Amplification effects and unconventional monetary policies (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:2(567):y:2012:i:2(567):p:13-30

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