title:
Are all the sacred cows dead? : implications of the financial crisis for macro and financial policies
creator:
Demirgüç-Kunt, Aslı.
contributor:
Serven, Luis.; World Bank. Development Research Group. Finance and Private Sector Development Team.; World Bank. Development Research Group. Growth and Macroeconomics Team.
publisher:
World Bank
date:
Record modified: 2011-09-08
date:
Record created: 2010-02-12
date:
2009
description:
description:
description:
description:
description:
Extent: 52 p. : digital, PDF file.
description:
Abstract: The recent global financial crisis has shaken the confidence of developed and developing countries alike in the very blueprint of financial and macro policies that underlie the western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the U.S. and many European governments have taken unprecedented steps of providing extensive liquidity, giving assurances to bank depositors and creditors that include blanket guarantees, and structuring bail-out programs that include taking large ownership stakes in financial institutions, in addition to establishing programs for direct provision of credit to non-financial institutions. Emphasizing the importance of incentives and tensions between short term and longer term policy responses to crisis management, this paper draws on a large body of research evidence and country experiences to discuss the implications of the current crisis for financial and macroeconomic policies going forward.
description:
"January 2009."; Title from PDF title page (viewed April 3, 2009); Includes bibliographical references (p. 47-52).
subject:
Monetary policy
subject:
Financial crises
relation:
http://go.worldbank.org/SQCFRS4QB0
relation:
OCLC No.: 318462578
relation:
Mode of access: World Wide Web.; System requirements: Adobe Acrobat Reader.
relation:
Is part of: Policy research working papers ; no. 4807.
type:
application/pdf
type:
Text
type:
PDF-1.4
source:
http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2009/01/05/000158349_20090105103551/Rendered/PDF/WPS4807.pdf
language:
eng
rights:
rights:
rights:
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identifier:
WPS4807
