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Journal des Économistes et des Études Humaines

Editor-in-Chief: Garello, Pierre

Ed. by Gentier, Antoine

CiteScore 2018: 0.14

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Volume 22, Issue 1


Volume 17 (2011)

Volume 16 (2010)

Volume 15 (2009)

The Case for Repairing Broken Channels without the Use of Unconventional Monetary Policy

Patrick Mardini
  • Corresponding author
  • Faculty of Business and Management, University of Balamand, PO Box 100, Tripoli, North Lebanon, Lebanon
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Published Online: 2016-07-19 | DOI: https://doi.org/10.1515/jeeh-2016-0006


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.

Keywords: transmission channels; business cycle; Austrian economics


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About the article

Published Online: 2016-07-19

Published in Print: 2016-07-01

Citation Information: Journal des Économistes et des Études Humaines, Volume 22, Issue 1, Pages 61–76, ISSN (Online) 2153-1552, ISSN (Print) 2194-5799, DOI: https://doi.org/10.1515/jeeh-2016-0006.

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