文章基本信息

标题：THE FEDERAL RESERVE AND EUROSYSTEM´S BALANCE SHEET POLICIES DURING THE FINANCIAL CRISIS: A COMPARATIVE ANALYSIS
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作者：Philipp Bagus ; David Howden
期刊名称：Romanian Economic and Business Review
印刷版ISSN：1842-2497
出版年度：2009
卷号：4
期号：3
出版社：Universitatea Romano-Americana
摘要：The balance sheet developments of the Federal Reserve System have received increased attention during recent events. The Fed has expanded its balance sheet and also changed its composition in order to support the financial system. As a consequence the average quality of the assets have, on average, deteriorated. In a similar way, the ECB has recently implemented novel balance sheet policies. In this article we compare the balance sheet policies of these two central banks. We assess the differences in policy strategies and deduct consequences concerning the quality of the respective currencies, as well as future directions of monetary policy.
关键词：Central Bank Balance Sheets; Quality of Money; Balance Sheet Analysis;Monetary Policy; Subprime Crisis.