The Romanian Economic Society (SOREC) and the European Institute of Romania (EIR) organized a debate on Unconventional monetary policies.
The unconventional monetary policies, of massive liquidity injections by large central banks, emerged as a response to the need to avoid the collapse of banking (financial) systems in the developed economies (USA, Europe, Japan). These policies are still in use and, beyond the presumed benefice of avoiding a systemic collapse, there are also undesirable effects.
Two key aspects regarding the unconventional monetary policies have been at the center of the debate: why did these policies emerge and what are their effects on the economies. The situation of the emerging economies, such as that of Romania, will be approached in this context.