2017
DOI: 10.1515/rebs-2017-0051
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The Financial Crisis Response. Comparative Analysis Between European Union And USA

Abstract: This paper reviews the measures adopted by central banks from the most important economies during the crisis and assess their effectiveness. It is important for policy makers to identify which measures were effective in limiting the financial system distress in order to adopt the appropiate measure during future crisis. In case of US, TARP was the most important program for banking system and it was effective in reducing banks’ contribution to systemic risk and banks’ default probabilities. But TARP also condu… Show more

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