The monetary origins of the financial and economic crisis
AbstractAbstract The monetary policy, especially the American one, can be blamed for the remote role (2002-2004) it played in the creation of the speculative bubble which led to a financial crisis. It also has a part of the responsibility through its restrictive direction during the 2004-2006 period; this time, a direction shared by other central banks. Finally, it is more immediately involved through its lack of clear-sightedness and responsiveness in the first months of the recession.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 23769.
Date of creation: 11 Mar 2010
Date of revision:
Economic crisis; Financial crisis; Monetary Policy; Taylor Rule; Taylor gap; Interest Term Spread; Recession;
Find related papers by JEL classification:
- E0 - Macroeconomics and Monetary Economics - - General
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-07-17 (All new papers)
- NEP-CBA-2010-07-17 (Central Banking)
- NEP-FDG-2010-07-17 (Financial Development & Growth)
- NEP-MAC-2010-07-17 (Macroeconomics)
- NEP-MON-2010-07-17 (Monetary Economics)
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