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The financial crisis and the policy of the Central Bank

The financial crisis and the policy of the Central Bank

Journal of Institutional studies, , Vol. 3 (no. 4),
p. 27-33

The purpose of this paper is to examine the impact of the globalfinancial crisis on the Central Bank, the key institutions of the financial sector. This paper deals with the major changes the functioning of this institution in modern conditions, reveals mechanism of the unconventional monetary policy in the liquidity trap.


Keywords: unconventional monetary policy; liquidity trap; mechanism of the unconventional monetary policy; “credit intervention”

References:
  • Adrian, T. and Shin, H. (2008). Liquidity, Monetary Policy, and Financial Cycles // Federal Reserve Bank of New York Current Issues in Economics and Finance. 14 (1).
  • Bauer, M. and Rudebusch, G. (2011). The Signaling Channel for Federal Reserve Bond Purchases // Federal Reserve Bank of San Francisco Working Paper. 21.
  • Bernanke, B. (2009). The Crisis and the Policy Response. Speech at the Stamp Lecture, London School of Economics, London, 13 January.
  • Bernanke, B. and Reinhart, V. (2004). Conducting Monetary Policy at Very Low ShortTerm Interest Rates // American Economic Review. 94(2). 85-90.
  • Borio, C. and Disyatat, P. (2009). Unconventional monetary policies: an appraisal // BIS Working Papers. No 292. 36 p.
Publisher: Ltd. "Humanitarian perspectives"
Founder: Ltd. "Humanitarian perspectives"
ISSN: 2076-6297