Implementing Monetary Policy in Crisis times – the Case of the Ecb

@inproceedings{CASSOLA2011ImplementingMP,
  title={Implementing Monetary Policy in Crisis times – the Case of the Ecb},
  author={NUNO CASSOLA and CORNEL IA HOLTHAUSEN},
  year={2011}
}
  • NUNO CASSOLA, CORNEL IA HOLTHAUSEN
  • Published 2011
This paper discusses the implementation of monetary policy during the economic and financial crisis of 2007-10. After summarising the different measures adopted by the ECB during these turbulent times, we present a stylised theoretical model that allows us to focus on the main trade-offs faced in implementing monetary policy. We argue that it is the level of key policy interest rates and the width of the interest rate corridor set by the standing facilities, and not the quantity of liquidity… CONTINUE READING

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