Home  Journals  Financial Analytics: Science and Experience  47(185) - 2013 December

Monetary policy in conditions of crisis: common goals and different practices

Available online: 30 December 2013

Subject Heading: MONETARY POLICY

JEL Classification: 

In the article an overview of US and EU monetary policy during the two stages of the crisis is presented. European monetary authorities were successful in providing liquidity to the banking sector and easing tensions on financial markets. Measures taken by the Federal Reserve helped reduce long-term rates and improve the housing market but have not restored economic growth to sustainable levels. Comparing the principles and mechanisms of monetary policy in the US and the euro zone allows to determine the specific actions taken by their Central banks and to analyze the measures now being implemented by the Bank of Russia.

Keywords: monetary policy, financial crisis, quantitative easing, credit crunch, central bank

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ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

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