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Unconventional Monetary Policy Measures and Their Role in Contending the Effects of the Current Global Financial Crisis

Angela Roman () and Irina Bilan

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 2, 695-700

Abstract: On the background of the current international financial crisis, the central banks of major developed countries took unprecedented action aimed at restoring the confidence in financial systems and at ensuring the normal functioning of the monetary policy transmission mechanism on the real economy. This paper aims to highlight the reactions of these central banks during the current crisis, especially analyzing the implementation of exceptional monetary policy measures aimed at correcting financial markets failures and at supporting the flows of credit to the real economy.

Keywords: the current global financial crisis; central banks; monetary policy; unconventional measures (search for similar items in EconPapers)
JEL-codes: E52 E58 G01 (search for similar items in EconPapers)
Date: 2010
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Handle: RePEc:ovi:oviste:v:10:y:2010:i:2:p:695-700