{"product_id":"monetary-policy-during-liquidity-crises-von-stefan-derksen","title":"Monetary Policy during Liquidity Crises","description":"\u003cp\u003eThe 2007 US subprime mortgage crisis caused  uncertainty on stock markets worldwide and  eventually resulted in the collapse of large  financial institutions, the bailout of commercial  banks by national governments, and a deep worldwide  recession. Central banks influence the allocation of  financial resources through monetary policy  decisions. This book discusses the role of  commercial banks in the monetary policy transmission  mechanism during liquidity crises. The empirical  research presented in this book suggests that during  a liquidity crisis expansionary monetary policy has  only limited potential to stimulate economic  activity. The current state of the both the US and  European economies seems to illustrate this point.  Despite the historically low interest rates in both  the US and Europe (i.e. extreme expansionary  monetary policy), the global economy is only slowly  recovering from the recession, which fuels the fear  for a so-called ¿double dip recession¿. An earlier  version of this book was submitted in partial  fulfillment of the requirements for the degree of  Master of Science in Finance at Tilburg University,  the Netherlands.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783843356084\"\u003e\u003ch3\u003eA Study on the Limitations of Monetary Policy in the Event of Liquidity Constrained Commercial Banks\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783843356084","offer_id":39497113075805,"sku":"9783843356084","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/d4702861-e90f-4e23-9146-177ebb8ee7d6.jpg?v=1758947901","url":"https:\/\/shop.autorenwelt.de\/en\/products\/monetary-policy-during-liquidity-crises-von-stefan-derksen","provider":"Autorenwelt Shop","version":"1.0","type":"link"}