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Mutations at the Level of the Measures Adopted by Monetary Authorities

Marius Apostoaie and Stefan Matei ()
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Stefan Matei: Doctoral School of Economics, Faculty of Economics and Business Administration, Al. I. Cuza University of Iasi, Romania

Economics and Applied Informatics, 2012, issue 2, 53-60

Abstract: Following the intensification of the international financial crisis in autumn 2008, the functioning of the financial system was seriously hindered. Central banks around the world responded firmly by lowering their key interest rates to historically low levels. As financial conditions did not improve as hoped and the real economy was still unstable, revealing therefore the limits of mainstream monetary policy, many monetary authorities employed several unconventional measures. The scope of this paper is to investigate two important approaches of classifying “unorthodox” monetary policies and review several measures undertook by central banks, highlighting the impact and some of the possible risks to the contemporary economy

Keywords: Central banks; Unconventional monetary policy; Interest rate policy; Balance sheet policy; Mutations; FED; ECB; Bank of England (search for similar items in EconPapers)
JEL-codes: E42 E44 E50 E52 E58 (search for similar items in EconPapers)
Date: 2012
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Journal Article: Mutations at the Level of the Measures Adopted by Monetary Authorities (2011) Downloads
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Handle: RePEc:ddj:fseeai:y:2012:i:2:p:53-60