The paper analyses in light of Austrian and Keynesian economic theory the impact of conventional and unconventional monetary policies as therapies for financial crises. It compares the financial market stabilization measures of the Federal Reserve System and the European System of Central Banks...

The introduction of the euro is expected to increase capital mobility in Euroland. While, as in the US, a common monetary policy is now performed, institutional structures are inherently more heterogenous. This paper argues that experience of the US with financial market integration can...