BUSINESS INFORM №1-2017

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Section: Finance, Money Circulation and Credit
UDC 338.23:336.74
Amalyan N. D.
Global Saving Glut and Monetary Policy: Cause-and-Effect Relations (p. 224 - 228)
The global financial crisis became a landmark both in everyday life of the population of all developed countries, engendering the Great Recession, and in the economic theory, demonstrating the maladjustment of traditional tools of monetary policy. Causes of financial crisis, measures for its mitigation, actual and forthcoming aftermaths of the crisis became the most discussed issues in problem-oriented literature as well as in consumer magazines. Federal Reserve System Chairman Ben Bernanke put the blame for the crisis on external factors, namely global saving glut, while other researchers pointed out internal factors. The article presents an analysis of both approaches and put in doubt the validity of Ben Bernanke’s interpretation of the causes and effects of global saving glut, affords proofs that it is the monetary policy of FRS, ECB and Bank of England that is inflating global saving glut and detects risks of the expansive unorthodox monetary policy in Eurozone and in the USA.
Keywords: global saving glut, unorthodox monetary policy, quantitative easing, negative interest rate, secular stagnation
Bibl.: 20.

Amalyan Natalia D. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Ukrainian-American Concordia University (8-14 Turhenievska Str., Kyiv, 01601, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Amalyan, Natalia D. (2017) “Global Saving Glut and Monetary Policy: Cause-and-Effect Relations.” Business Inform 1:224–228.

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