THE EFFECTIVENESS OF MONETARY POLICY
IN FRONT OF CRISIS
THE EFFECTIVENESS OF MONETARY POLICY
IN FRONT OF CRISIS
Author(s): Chtourou Hassen Subject(s): Economy
Published by: Editura Bibliotheca
Keywords: The monetary policy; the European Central Bank; the Federal Reserve; the European debt crisis; the 2008 financial crisis.
Summary/Abstract: The effectiveness of monetary policy depends on the ability of the centralbank to stabilise the financial markets. The monetary policy is more potent during financialcrises because a massive monetary policy must provide in the economies to adjust themoney supply and avoid deflation. The objective of this paper is to examine the instrumentsof the monetary policy in front of crisis. In this paper, we present the origins and effects ofthe financial crisis and examine the monetary policy of European Central Bank and FederalReserve in front of crisis especially the 2008 financial crisis and the European debt crisis. Inthe empirical analysis, we calculate the probability and density of the liability of open marketpaper in period of crisis.
Journal: Revue Européenne du Droit Social
- Issue Year: 2017
- Issue No: 3 (36)
- Page Range: 92 - 106
- Page Count: 15
- Language: English
