The ECB as the ‘intermediary of last resort’
09/18/2023
3 min
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In this video, Professor Aurore BURIETZ-BARAKAT from IÉSEG speaks about her research on the different measures the European Central Bank (ECB) implemented to support banks in the aftermath of the 2008 global financial crisis.
Policy tools to help curb the financial crisis
Amid the magnitude of the financial shock and the increasing pressures on the global banking industry, central banks including the ECB had to intervene to provide credit institutions with financial support. However, like other central banks, the ECB had to develop new and unconventional monetary measures in its portfolio of policy tools to help curb the financial crisis. The question is: were they efficient?
More information is also available in the article she co-authored with Matthieu PICAULT from the University of Orleans : “To lend or not to lend? The ECB as the ‘intermediary of last resort’” – Economic Modelling (2023).
Aurore Burietz-Barakat is Professor of Finance at IÉSEG, a member of the LEM (CNRS-UMR 9221), and a scientific collaborator at the Université Libre de Bruxelles (Belgium). She holds a Ph.D. in Economics from the University of Picardie, Jules Verne (France). She spent one year and a half at the Université Libre de Bruxelles (Belgium) as a post-doc in the MacroHist Marie Curie Innovative Training Network and she was a visiting scholar at Columbia University (US) in 2013. She has published in the Journal of Economic Behavior and Organization, International Review of Law and Economics, Economic Modelling, Economics Letters, Finance Research Letters, Economics Bulletin, and International Economics.
