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Unconventional Bank Bailouts in Fixed Exchange Rate Regimes

Author

Listed:
  • Victoria Miller
  • Luc Vallée

Abstract

Central Banks have traditionally rescued banks only indirectly by monetizing or purchasing government debt sold to finance a bailout. However, over the last few years, monetary authorities have started using less conventional methods to directly restore bank viability. These methods include quantitative and qualitative easing which compliment the more traditional method of debt monetization. The present paper studies the effectiveness of these bailout strategies and articulates some original policy options now available to central banks with currency targets. Copyright Springer Science+Business Media New York 2016

Suggested Citation

  • Victoria Miller & Luc Vallée, 2016. "Unconventional Bank Bailouts in Fixed Exchange Rate Regimes," Open Economies Review, Springer, vol. 27(1), pages 39-49, February.
    • Handle: RePEc:kap:openec:v:27:y:2016:i:1:p:39-49
    DOI: 10.1007/s11079-015-9371-y
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    More about this item

    Keywords

    Bank bailouts; Quantitative easing; Qualitative easing; Fixed exchange rates; F3; G5;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • G5 - Financial Economics - - Household Finance

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