THE FINANCIAL CRISIS, FINANCIAL SYSTEM INSTABILITY AND MONETARY TRANSMISSION MECHANISM
Vol. 4, No 1, 2011
Marek Zwolankowski “The Financial Crisis, Financial System Instability and Monetary Transmission Mechanism”, Journal of International Studies, Vol. 4, No 1, 2011, pp. 26-32. |
|
|
The Financial Crisis, Financial System Instability and Monetary Transmission Mechanism
|
|
|
Marek Zwolankowski Department of Finance Faculty of Economics and Management Szczecin University |
|
|
Abstract. The current financial crisis is also a crisis of cognition. Erroneous strategy of central banks and accommodative monetary policy (primarily of the Fed) have become causes of distortion of the information function of financial assets' prices. Excessive – in favourable monetary conditions – expansion of the global financial system has increased the complexity (ergo non-transparency of information) of financial operations and investment strategies. |
Submitted: September, 2011 1st revision: October, 2011 Accepted: November, 2011
|
|
Keywords: Financial Crises, Monetary Transmission Mechanism. |
|