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Финансовый кризис и политика Центрального Банка
Журнал институциональных исследований. 2011. Т. 3. № 4. С. 27-33.
The purpose of this paper is to examine the impact of the global financial crisis on the Central Bank, the key institutions of the financial sector. This paper deals with the major changes the functioning of this institution in modern conditions, reveals mechanism of the unconventional monetary policy in the liquidity trap.
Merzlyakov S., Kuznetsova O., Pekarski S. E., Russian Journal of Economics 2019 Vol. 5 No. 2 P. 117-135
The global financial crisis of 2007–2009 has changed the landscape for monetary policy. Many central banks in developed economies had to employ various unconventional policy tools to overcome a liquidity trap. These included large-scale asset purchase programs, forward guidance and negative interest rate policies. While recently, some central banks were able to return to conventional ...
Added: June 8, 2021
Kavitskaya I., Журнал институциональных исследований 2012 Т. 4 № 4 С. 73-82
The effectiveness of monetary policy depends not only on the transfer of shock on the economy, but also on the institutional environment in which it operates. Creating the required institutional environment is an important way to increase the effectiveness of the impact of monetary policy. To solve this problem the institutional factors should be included ...
Added: January 27, 2013
Kavitskaya I., Terra Economicus 2014 Т. 12 № 4 С. 52-58
The article presents an analysis of the impact of institutional features of the US economy to implement the practice of unconventional measures of monetary policy in the current crisis. Article researches the programs of unconventional monetary policy, which the Fed held before and after the collapse of the bank Lehman Brothers, systematized and compared the ...
Added: February 11, 2015
Kavitskaya I., Вопросы регулирования экономики 2014 Т. 5 № 4 С. 118-125
Modern financial crisis has shown the ineffectiveness of the traditional measures of monetary policy. This prompted the Bank of England, like many Central Bank move to use unconventional measures of monetary policy. In the paper the classification and comparison of different programs unconventional policy used by the Bank of England at different stages of the ...
Added: March 10, 2015
Kavitskaya I., Вопросы регулирования экономики 2015 Т. 6 № 4 С. 131-139
The article presents an analysis of the monetary policy of the European Central Bank (ECB) under the conditions of the present crisis. The article systematizes of ECB monetary policy in today's crisis, researches the ECB's monetary policy at different stages of the crisis. A detailed analysis showed that the ECB's monetary policy is significantly different ...
Added: January 11, 2016
Dabrowski M., Accounting, Economics, and Law: A Convivium (De Gruyter) 2021 Vol. 11 P. 1-47
Two major economic crises in the early twenty-first century have had a serious impact on monetary policy and CB independence. Disruption in financial intermediation and associated deflationary pressures caused by the global
financial crisis of 2007–2009 and European financial crisis of 2010–2015 pushed central banks (CBs) in major currency areas towards adoption of unconventional monetary policy ...
Added: May 20, 2021
Kuznetsova O., Merzlyakov S., Pekarski S. E., Вопросы экономики 2019 № 6 С. 56-78
In the aftermath of 2007—2009 global financial crisis, many economies had stuck in a liquidity trap. This stance forced central banks to implement various unconventional monetary policies, including massive purchases of financial assets, cutting policy rates down into the negative zone and reliance on forward guidance. In this paper we critically discuss these policy measures. ...
Added: July 15, 2019
Dajčman S., Kavkler A., Merzlyakov S. et al., Journal of Central Banking Theory and Practice 2022 Vol. 11 No. 1 P. 227-247
This paper studies the international transmission of the
euro area´s monetary policy and financial stress to Russia. The results
show that financial stress in the euro area damages Russian
economic activity and stock prices, but not its trade balance. The
contractionary euro area monetary policy shock decreases Russian
GDP, leads to real appreciation of the euro against the Russian rouble,
damages ...
Added: September 7, 2022
Malkov E. S., В кн. : Сборник лучших выпускных работ - 2012. : М. : Издательский дом НИУ ВШЭ, 2013. С. 338-364.
Данная работа посвящена изучению влияния, которое оказывает недобросовестное поведение американских банков, выражающееся в автоматическом подписании документов («robo-signing»), на экономику, а также на нетрадиционную монетарную политику в период финансового кризиса. Анализ проводится с помощью динамической стохастической модели общего равновесия. Автор приходит к выводу о том, что недобросовестность банков усугубляет последствия финансового кризиса и тем самым вынуждает ...
Added: September 18, 2013
Dabrowski M., Dominguez-Jimenez M., / Bruegel. Series Bruegel blog "Bruegel blog". 2020.
Central banks in emerging markets with weak currencies should not resort to unorthodox monetary tools such as quantitative easing as a response to the crisis triggered by COVID-19. Preferable alternatives include shifting public spending away from less pressing needs, moderately increasing public debt and falling back on official development assistance. ...
Added: October 29, 2020
Brookings, 2013
Five years after the first meeting of G-20 leaders, and decisive action by the central banks and treasuries of the world’s major economies that prevented the financial crisis of 2008-2009 from turning into a 1930’s style world-wide depression, the world economy still remains fragile. The original fiscal stimulus agreed upon in the April 3rd 2009 ...
Added: September 12, 2013
Sapunkova N. A., Журнал институциональных исследований 2012 Т. 4 № 4 С. 83-101
The article examines the specific features of the unconventional monetary policy measures undertaken in the emerging market economies (EME) during the world financial and economic crises of 2007-2010. It deals with the institutional and macroeconomic peculiarities that determined the differences in the choice and in the usage of unconventional monetary instruments in the emerging market ...
Added: February 24, 2013
McMahon M., Peiris U., Polemarchakis H., Journal of Economic Dynamics and Control 2018 No. 93 P. 92-114
Unconventional monetary policy, by relaxing restrictions on the composition of the balance sheet of the central bank, compromises control over the stochastic path of inflation; or, in open economies, over the stochastic path of exchange rates. If the composition of the balance sheet is unrestricted then the path of inflation is indeterminate. This is the ...
Added: January 25, 2018
Umar Z., Bossman A., Iqbal N. et al., Applied Economics 2023
We examine whether the COVID-19 pandemic-induced systemic shocks cause a change in the dynamics of monetary policy spillovers among developed economies. Results from our analysis under the time-varying parameter vector autoregressive model indicate that: (i) variations in monetary policy actions are explained by monetary policy spillovers; (ii) shocks from the COVID-19 pandemic rocketed monetary policy ...
Added: June 22, 2023
Malkov E., / Высшая школа экономики. Series WP BRP "Economics/EC". 2014. No. 65.
As Akerlof and Shiller (2009) argue, corruption and bad faith played an important role in determining the severity of each of the past recessions in the US. This paper studies the impact of robo-signing, which is a typical example of economic bad faith, on the economy and unconventional monetary policy during the last financial crisis. ...
Added: October 25, 2013
Malkov E. S., Журнал новой экономической ассоциации. Приложение 2014 С. 151-159
This paper studies the impact of the banks’ bad faith on the economy and unconventional monetary policy in the US during the financial crisis 2007–2009. We expand the model by (Gertler, Karadi, 2011) by incorporating some features of the Great Recession and show that improper behavior of the banks negatively affects the economy through the ...
Added: October 25, 2013
М. : ИНИОН РАН, 2014
В сборнике рассматриваются теоретические и практические проблемы взаимодействия человека, техносферы и биосферы, а также преодоления антропогенной деградации биосферы.
Для научных работников, специалистов, преподавателей и аспирантов. ...
Added: October 22, 2014
Kotelnikova M. V., Aistov A., Вестник Нижегородского университета им. Н.И. Лобачевского. Серия: Социальные науки 2019 Т. 55 № 3 С. 183-189
The article describes a method that allows to improve the content of disciplines of the mathematical cycle by dividing them into invariant (general) and variable parts. The invariants were identified for such disciplines as «Linear algebra», «Mathematical analysis», «Probability theory and mathematical statistics» delivered to Bachelors program students of economics at several universities. Based on ...
Added: January 28, 2020
М. : КноРус, 2012
Представлена экономическая оценка природно-ресурсного потенциала РФ, рассмотрены закономерности размещения природных ресурсов и основные особенности экологической ситуации в регионах страны, описано влияние экологических факторов на демографический потенциал и здоровье населения, приведена характеристика основных загрязнителей окружающей среды, изложены основы природно-ресурсной политики России и хозяйственный механизм ее осуществления, раскрыты региональные различия современной экологической обстановки в стране и тенденции ...
Added: March 10, 2013
Lipatnikov V. S., Гребенькова Е. С., Проблемы теории и практики управления 2014 № 12 С. 89-96
In this article is conducted research of the mechanism of selection of venture innovative projects. We studied the factors, which influence a choice of business angels. The purpose of work was to receive an advanced system of estimation of projects. On the basis of the survey it is possible to say that the financing of ...
Added: December 8, 2014
Neretina Ekaterina, Neretina E., Journal of Accounting, Finance and Economics 2013 Vol. 3 No. 1 P. 65-76
The last market crash of 2008-2009 showed that the construction sphere is one of the most fragile subject to the crisis effect. The destructive effect of this crash resulted in substantial decrease in mortgage lending, price index, capital investment, and in growth of the cost level. As the construction industry remains strategically important, the eruption ...
Added: September 5, 2013
Oxford Abstracts, 2021
Recovering from Covid: Responsible Management and Reshaping the Economy
In 2021, the 35th Conference and 2nd BAM Conference in the Cloud, will critically engage with the socio-economic recovery from the global Covid-19 pandemic.
Consumers, producers, frontline workers, managers, businesses, public and third sector organisations all have their own roles and responsibilities in transforming our marketised society for the post-pandemic world.
We will critically explore the challenges we all face, aiming to ...
Added: June 12, 2021
Dzhagityan E. P., Вестник международных организаций: образование, наука, новая экономика 2019 Т. 14 № 2 С. 245-274
The institutional aspect of post-crisis banking regulation reform (Basel III) remains unsettled, and as such undermines regulators’ efforts to shape a seamless platform for international financial intermediation. The lack of global acceptance of the Basel III standards amid the internationalization of banking activities is one of the main reasons for regulatory asymmetries which are difficult ...
Added: August 28, 2018
Kuchmaeva O., Население и экономика 2018 Т. 2 № 4 С. 47-84
Статья посвящена анализу масштабов и видов социальной активности пожилых россиян. Актуальность данной проблемы обусловлена масштабами демографического старения, ставшего уже предметом целенаправленной социальной политики в России и странах мира. Реализуя Международный план действий по проблемам старения, в частности, в рамках Стратегии действий в интересах граждан старшего поколения в Российской
Федерации до 2025 г., важно понимать, насколько сейчас ...
Added: October 30, 2019