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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)

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.

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Article provided by Asociatia Generala a Economistilor din Romania - AGER in its journal Theoretical and Applied Economics.

Volume (Year): XVIII(2012) (2012)
Issue (Month): 2(567) (February)
Pages: 13-30

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Handle: RePEc:agr:journl:v:2(567):y:2012:i:2(567):p:13-30
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