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IS DEFLATION TRAP A SERIOUS THREAT? CASE STUDY OF FED, ECB AND NBP

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dc.contributor.author Ryczkowski, Maciej
dc.date.accessioned 2016-06-17T06:20:22Z
dc.date.available 2016-06-17T06:20:22Z
dc.date.issued 2015-06-30
dc.identifier.citation Ekonomia i Prawo. Economics and Law, No. 2, Vol. 14, pp. 243-259
dc.identifier.issn 2392-1625
dc.identifier.other doi:10.12775/EiP.2015.015
dc.identifier.uri http://repozytorium.umk.pl/handle/item/3448
dc.description.abstract The goal of the paper is to compare nonstandard solutions implemented by Federal Reserve System, European Central Bank and National Bank of Poland in response to the outbreak of a subrime crisis in United States and to debt crisis in European Union. For that purpose there is carried out a comparative, descriptive analysis of institutional steps taken by the three central banks and the governments to preserve macroeconomic stability. The nonstandard measures allowed to avoid a comeback of the Great Depression and restored market’s confidence, unfortunately at the cost of decreased resilience for future possible crises along with many other medium and long run unintended consequences.
dc.language.iso eng
dc.rights Attribution-NoDerivs 3.0 Poland
dc.rights info:eu-repo/semantics/openAccess
dc.rights.uri http://creativecommons.org/licenses/by-nd/3.0/pl/
dc.subject nonstandard monetary policy measures
dc.subject deflation trap
dc.subject liquidity trap
dc.title IS DEFLATION TRAP A SERIOUS THREAT? CASE STUDY OF FED, ECB AND NBP
dc.type info:eu-repo/semantics/article


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