{"id":5324,"date":"2023-09-18T08:34:00","date_gmt":"2023-09-18T06:34:00","guid":{"rendered":"https:\/\/insights.ieseg.fr\/?p=5324"},"modified":"2024-09-05T17:25:25","modified_gmt":"2024-09-05T15:25:25","slug":"the-ecb-as-the-intermediary-of-last-resort","status":"publish","type":"post","link":"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/","title":{"rendered":"The ECB as the \u2018intermediary of last resort\u2019"},"content":{"rendered":"\n<p>In this video,&nbsp; Professor Aurore BURIETZ-BARAKAT from <a href=\"https:\/\/insights.ieseg.fr\/en\/about-ieseg\/\">I\u00c9SEG<\/a> <em>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.<\/em><\/p>\n\n\n\n<h3>Policy tools to help curb the financial crisis<\/h3>\n\n\n\n<p>\u00a0<em>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?<\/em><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"60 Seconds: Inside Research - The ECB as the \u2018intermediary of last resort\u2019\" width=\"1778\" height=\"1000\" src=\"https:\/\/www.youtube.com\/embed\/cz6MiEhloUY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>More information is also available in the article she co-authored with Matthieu PICAULT from the University of Orleans : \u201cTo lend or not to lend? The ECB as the \u2018intermediary of last resort\u2019\u201d \u2013 <a href=\"https:\/\/www.sciencedirect.com\/journal\/economic-modelling\">Economic Modelling<\/a> (2023).<\/p>\n\n\n\n<p><em><strong>Aurore Burietz-Barakat<\/strong> is Professor of Finance at I\u00c9SEG, a member of the LEM (CNRS-UMR 9221), and a scientific collaborator at the Universit\u00e9 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 Universit\u00e9 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.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this video,&nbsp; Professor Aurore BURIETZ-BARAKAT from I\u00c9SEG 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 \u00a0Amid the magnitude of the financial shock and the increasing pressures on the <a href=\"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  The ECB as the \u2018intermediary of last resort\u2019<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":5401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[484],"tags":[262,261,1566,403],"article-type":[13],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The ECB as the \u2018intermediary of last resort\u2019 - I\u00c9SEG Insights<\/title>\n<meta name=\"description\" content=\"Aurore BURIETZ-BARAKAT speaks about research on the different measures the ECB implemented to support banks after the 2008 financial crisis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The ECB as the \u2018intermediary of last resort\u2019 - I\u00c9SEG Insights\" \/>\n<meta property=\"og:description\" content=\"Aurore BURIETZ-BARAKAT speaks about research on the different measures the ECB implemented to support banks after the 2008 financial crisis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/\" \/>\n<meta property=\"og:site_name\" content=\"I\u00c9SEG Insights\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-18T06:34:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-05T15:25:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insights.ieseg.fr\/wp-content\/uploads\/2023\/09\/mika-baumeister-Xpsjx1PNnvo-unsplash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Andrew MILLER\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Andrew MILLER\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/\",\"url\":\"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/\",\"name\":\"The ECB as the \u2018intermediary of last resort\u2019 - I\u00c9SEG Insights\",\"isPartOf\":{\"@id\":\"https:\/\/insights.ieseg.fr\/#website\"},\"datePublished\":\"2023-09-18T06:34:00+00:00\",\"dateModified\":\"2024-09-05T15:25:25+00:00\",\"author\":{\"@id\":\"https:\/\/insights.ieseg.fr\/#\/schema\/person\/3d9d5305d4471a7c4bf3fa7bda0d004f\"},\"description\":\"Aurore BURIETZ-BARAKAT speaks about research on the different measures the ECB implemented to support banks after the 2008 financial crisis.\",\"breadcrumb\":{\"@id\":\"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/insights.ieseg.fr\/en\/resource-center\/economics-finance\/the-ecb-as-the-intermediary-of-last-resort\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"I\u00c9SEG Insights\",\"item\":\"https:\/\/insights.ieseg.fr\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economics &amp; 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