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Amplification Effects and Unconventional Monetary Policies

Author

Listed:
  • Cécile BASTIDON GILLES

    (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.

Suggested Citation

  • Cécile BASTIDON GILLES & Nicolas HUCHET & Philippe GILLES, 2012. "Amplification Effects and Unconventional Monetary Policies," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(567)), pages 13-30, February.
    • Handle: RePEc:agr:journl:v:2(567):y:2012:i:2(567):p:13-30
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    Cited by:

    1. Cécile Bastidon & Philippe Gilles & Nicolas Huchet, 2016. "The ECB, Between Conservatism and Pragmatism," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 5(1), pages 25-52.
    2. Cécile Bastidon, 2013. "Un modèle théorique d'intermédiation : transmission et gestion des chocs," Post-Print hal-00806524, HAL.

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