Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/217625
Authors: 
Kyriazis, Νikolaos A.
Year of Publication: 
2017
Citation: 
[Journal:] Journal of Central Banking Theory and Practice [ISSN:] 2336-9205 [Volume:] 6 [Issue:] 3 [Publisher:] De Gruyter Open [Place:] Warsaw [Year:] 2017 [Pages:] 5-15
Publisher: 
De Gruyter Open, Warsaw
Abstract: 
After the outburst of the recent financial crisis, the subsequent unconventional monetary acting that seemed to be a veritable revolution tends to become a norm. This paper makes an effort to employ the modern monetary theory framework to address the nowadays recession in the Eurozone through the prism of debt perpetuation and the more drastic helicopter money drops. Dynamics of debt monetization and issues of its sustainability are examined in connection to its free liquidity injections capacity. The aim of this paper is to try to cast some light on the potential of overt money financing in the Eurozone (EZ) and its consequences on the ECB’s credibility and the maintenance of its efficacy.
Subjects: 
Unconventional monetary policy
Helicopter money
Debt monetization
Eurozone
JEL: 
E52
E58
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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