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Title: The case for repairing broken channels without the use of unconventional monetary policy
Authors: Mardini, Patrick 
Affiliations: Department of Economics 
Keywords: Transmission channels
Austrian economics
Subjects: Business cycles
Issue Date: 2016
Part of: Journal des economistes et des etudes humaines
Volume: 22
Issue: 1
Start page: 61
End page: 76
The paper shows that the literature on broken channels (1) fails to provide an explanation of the root causes of the crisis, (2) mistakes a subjective human behavior for a mechanical failure and (3) confuses market adjustment mechanisms. From this perspective, the policy aiming to deploy unconventional monetary policies to overcome the broken channels is misguided. The paper fits broken channels into the framework of a more comprehensive theory of the business cycle and suggests a different policy recommendation.
Ezproxy URL: Link to full text
Type: Journal Article
Appears in Collections:Department of Economics

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