Crisis Response of Central Banks
This compilation of notes requested by the Committee on Economic and Monetary Affairs (ECON) for the Monetary Dialogue in July 2012 deals with crisis response of central banks. The ECB has adopted a number of non-standard measures during the crisis to foster a smooth functioning of the monetary policy transmission throughout the euro area. Also other major central banks, e.g. Federal Reserve and the Bank of England, have reacted with non-standard measures. These non-standard measures are compared and their effectiveness has been assessed.
Study
External author
Daniel GROS (Centre for European Policy Studies - CEPS), Cinzia ALCIDI (CEPS), Alessandro GIOVANNI (CEPS), Stefan COLLIGNON (Scuola Superiore Sant'Anna, Pisa and Centro Europa Ricerche - CER, Rome, Italy ; research assistance performed by Piero ESPOSITO and Yuming CUI), Sylvester C.W. EIJFFINGER (CentER and EBC, Tilburg University and CEPR ; research assistance performed by Rob NIJSKENS, Tilburg University), Ansgar BELKE (DIW Berlin and University of Duisburg-Essen), Jens KLOSE (University of Duisburg-Essen ; German Council of Economic Advisors - SVR) and Guillermo DE LA DEHESA (CEPR, OBCE - the Spanish ECB Watcher)
About this document
Publication type
Policy area
Keyword
- America
- anti-crisis plan
- comparative study
- credit policy
- documentation
- economic analysis
- economic analysis
- economic geography
- economic policy
- ECONOMICS
- EDUCATION AND COMMUNICATIONS
- EU institutions and European civil service
- Europe
- European Central Bank
- EUROPEAN UNION
- FINANCE
- financial institutions and credit
- financial intervention
- free movement of capital
- GEOGRAPHY
- monetary crisis
- monetary economics
- monetary policy
- monetary relations
- money market
- political geography
- single monetary policy
- United Kingdom
- United States