The monetary origins of the financial and economic crisis

Bernard Landais

MPRA Paper from University Library of Munich, Germany

Abstract: Abstract The monetary policy, especially the American one, can be blamed for the remote role (2002-2004) it played in the creation of the speculative bubble which led to a financial crisis. It also has a part of the responsibility through its restrictive direction during the 2004-2006 period; this time, a direction shared by other central banks. Finally, it is more immediately involved through its lack of clear-sightedness and responsiveness in the first months of the recession.

Keywords: Economic crisis; Financial crisis; Monetary Policy; Taylor Rule; Taylor gap; Interest Term Spread; Recession (search for similar items in EconPapers)
JEL-codes: E0 E52 E58 (search for similar items in EconPapers)
Date: 2010-03-11
New Economics Papers: this item is included in nep-cba, nep-fdg, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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