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

Author

Listed:
  • Roman Angela

    („Al. I. Cuza” University of Iasi, Faculty of Economics and Business Administration)

  • Bilan Irina

    („Al. I. Cuza” University of Iasi, Faculty of Economics and Business Administration)

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.

Suggested Citation

  • Roman Angela & Bilan Irina, 2010. "Unconventional Monetary Policy Measures and Their Role in Contending the Effects of the Current Global Financial Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 695-700, October.
    • Handle: RePEc:ovi:oviste:v:10:y:2010:i:2:p:695-700
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    More about this item

    Keywords

    the current global financial crisis; central banks; monetary policy; unconventional measures;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises

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