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TERRA ECONOMICUS

Fed’s policy in the current crisis

TERRA ECONOMICUS, , Vol. 12 (no. 4),
p. 52-58

The article presents an analysis of the impact of institutional features of the US economy to implement the practice of unconventional measures of monetary policy in the current crisis. Article researches the programs of unconventional monetary policy, which the Fed held before and after the collapse of the bank Lehman Brothers, systematized and compared the Fed’s actions during the crisis in the US at the different stages. A detailed study of the programs, which the Fed used to influence the economy in the crisis, shows a special character of these programs. On the one hand, it was definitely the adaptation of the measures applied to the current situation. On the other hand, the institutional features of the US financial market dictated the need for exposure on the certain sectors of the financial market, but not on the whole market.


Keywords: institutional factors; unconventional monetary policy; the monetary policy of the Fed

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606