Theoretical and Applied Economics
No. 2 / 2012 (567)
Amplification Effects and Unconventional Monetary Policies
Université du Sud-Toulon Var, France
Nicolas HUCHET
Université du Sud-Toulon Var, France
Philippe GILLES
Université du Sud-Toulon Var, France
Abstract. Global financial crises trigger off amplification effects, which allow relatively small shocks to propagate through the whole financial system. For this reason, the range of Central banks policies is now widening beyond conventional monetary policies and lending of last resort. The aim of this paper is to establish a rule for this practice. The model is based on the formalization of funding conditions in various types of markets. We conduct a comprehensive analysis of the “unconventional monetary policies”, and especially quantify government bonds purchases by the Central bank.
Contents
Quantitative vs. Qualitative in the Romanian Fiscal Adjustment
Amplification Effects and Unconventional Monetary Policies
Theoretical considerations about implementation of IAS 41 in Romania
Migration and Tourism Demand
Current Research on Flexibilizing the Labor Market – first part –
Crisis: a Return to Rationality
Assessing the Sectoral Dynamics of Non-performing Loans: Signs from Financial and Real Economy
Globalism and Corporate Identity in the Post-crisis Economy
New Approaches for Monetary Policy
The Need of a New Economic Model