Central Banks’ Response to the Current Financial Crisis – Between Costs and Benefits
Our study is inserted in the thematic area dedicated, during recent years, to the research on central banks’ response to financial crisis. The global financial crisis has outlined a series of weaknesses located at regulatory and supervisory activities’ level, causing major central banks to face a ne...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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EconJournals
2012-03-01
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| Series: | International Journal of Economics and Financial Issues |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/pub/ijefi/issue/31952/351811?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| _version_ | 1797910180758814720 |
|---|---|
| author | Teodora Cristina Barbu Iustina Boitan |
| author_facet | Teodora Cristina Barbu Iustina Boitan |
| author_sort | Teodora Cristina Barbu |
| collection | DOAJ |
| description | Our study is inserted in the thematic area dedicated, during recent years, to the research on central banks’ response to financial crisis. The global financial crisis has outlined a series of weaknesses located at regulatory and supervisory activities’ level, causing major central banks to face a new operating environment, in which traditional monetary policy tools are ineffective (key interest rate close to zero) in restoring the financial markets’ proper functioning. The unconventional monetary policy measures, the dramatic fall of the key interest rate, the balance sheet structure modification and extension of collateral accepted by central banks are the main issues on which we focused our attention, to highlight the costs and benefits recorded by these institutions. All major central banks have implemented highly innovative, flexible facilities and the main beneficiaries have been the banking systems in their entirety. |
| first_indexed | 2024-04-10T11:21:27Z |
| format | Article |
| id | doaj.art-a38c25e937c84279b7e69d0ebf995fa3 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T11:21:27Z |
| publishDate | 2012-03-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-a38c25e937c84279b7e69d0ebf995fa32023-02-15T16:18:39ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382012-03-012112201032Central Banks’ Response to the Current Financial Crisis – Between Costs and BenefitsTeodora Cristina BarbuIustina BoitanOur study is inserted in the thematic area dedicated, during recent years, to the research on central banks’ response to financial crisis. The global financial crisis has outlined a series of weaknesses located at regulatory and supervisory activities’ level, causing major central banks to face a new operating environment, in which traditional monetary policy tools are ineffective (key interest rate close to zero) in restoring the financial markets’ proper functioning. The unconventional monetary policy measures, the dramatic fall of the key interest rate, the balance sheet structure modification and extension of collateral accepted by central banks are the main issues on which we focused our attention, to highlight the costs and benefits recorded by these institutions. All major central banks have implemented highly innovative, flexible facilities and the main beneficiaries have been the banking systems in their entirety.https://dergipark.org.tr/tr/pub/ijefi/issue/31952/351811?publisher=http-www-cag-edu-tr-ilhan-ozturkfinancial crisis central banks unconventional monetary policy |
| spellingShingle | Teodora Cristina Barbu Iustina Boitan Central Banks’ Response to the Current Financial Crisis – Between Costs and Benefits International Journal of Economics and Financial Issues financial crisis central banks unconventional monetary policy |
| title | Central Banks’ Response to the Current Financial Crisis – Between Costs and Benefits |
| title_full | Central Banks’ Response to the Current Financial Crisis – Between Costs and Benefits |
| title_fullStr | Central Banks’ Response to the Current Financial Crisis – Between Costs and Benefits |
| title_full_unstemmed | Central Banks’ Response to the Current Financial Crisis – Between Costs and Benefits |
| title_short | Central Banks’ Response to the Current Financial Crisis – Between Costs and Benefits |
| title_sort | central banks response to the current financial crisis between costs and benefits |
| topic | financial crisis central banks unconventional monetary policy |
| url | https://dergipark.org.tr/tr/pub/ijefi/issue/31952/351811?publisher=http-www-cag-edu-tr-ilhan-ozturk |
| work_keys_str_mv | AT teodoracristinabarbu centralbanksresponsetothecurrentfinancialcrisisbetweencostsandbenefits AT iustinaboitan centralbanksresponsetothecurrentfinancialcrisisbetweencostsandbenefits |