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Government Intervention and Market System

S/E/273. Policy responses to crisis and recession in USA and UK

WORDS:
6250
DATE:
2011
PRICE:
69.99 GBP

The paper looks at the recent economic and financial crisis in the USA and UK explaining its causes and discussing policy options available to central banks in response to the crisis. Parallels are drawn between the anti-crisis measures taken by the Bank of Japan in 2001-2006 and central banks of Nordic countries (Finland, Norway and Sweden) during their banking crises in the 1980-1990. The effectiveness of quantitative easing (QE) as an unconventional monetary policy is assessed considering the best ways to end the QE policy intervention.

 

KEYWORDS: Central banks, policy responses, crisis and recession, quantitative easing, monetary policy,

 
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