Crisis Response of Central Banks

Študija 16-07-2012

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.