Home » Business & Finance » ArezkiRabah » Global Imbalances and Petrodollars

December 08 , 2007

Global Imbalances and Petrodollars


We analyze the European Central Bank's (ECB's) response to the global financial crisis. Our results suggest that even during the crisis, the core part of ECB's monetary policy transmission-from policy rates to market rates-has continued to operate, but at a decreased efficiency. We also find some evidence that the ECB's non-standard measures, namely the lengthening of the maturity of monetary policy operations and the provision of funds at the fixed rate, reduced money market term spreads, facilitating the pass-through from policy to market rates. Furthermore, the results imply that the substantial increase in the ECB's balance sheet may have contributed to a reduction in government bond term spreads.

How to download book

Buy this book

You can buy this book now only for $12.99. This is the lowest price for this book.

Buy book

Download book free

If you want to download this book for free, please register, approve your account and get one book for free.


After that you may download book «Global Imbalances and Petrodollars»:

Download Papyre FB2:


Download XML Book:


Download Amazon Kindle:


Download Mobi: