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The Crisis And Central Bank Reaction


  • Silviu CERNA

    (West University of Timisoara, Faculty of Economics and Business Administration, member in the Board of the National Bank of Romania)


The world economy is in the face of the strongest crisis of the last seventy years. This crisis is still ongoing, but authorities in many countries have already taken a series of measures to mitigate the effects. In this fight, the central banks are the first line. It is still too early to draw any lessons from the events taking place, but a reflection "sine ira et studio" over this experience is already possible. This paper aims to analyze this experience through the policies implemented by central banks to cope with the crisis.

Suggested Citation

  • Silviu CERNA, 2009. "The Crisis And Central Bank Reaction," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 3, pages 31-39, May.
  • Handle: RePEc:aic:revebs:y:2009:i:3:cernas

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    central bank; crisis; liquidity; regulation;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G01 - Financial Economics - - General - - - Financial Crises


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