Crisis and responses
Published
2008
Publisher
National Bureau of Economic Research
Description
"Realizing that their traditional instruments were inadequate for responding to the crisis that began on 9 August 2007, Federal Reserve officials improvised. Beginning in mid-December 2007, they implemented a series of changes directed at ensuring that liquidity would be distributed to those institutions that needed it most. Conceptually, this meant America's central bankers shifted from focusing solely on the size of their balance sheet, which they use to keep the overnight interbank lending rate close to their chosen target, to manipulating the composition of their assets as well. In this paper, I examine the Federal Reserve's conventional and unconventional responses to the financial crisis of 2007-2008"--National Bureau of Economic Research web site.
Frequently Asked Questions
Who is the author of Crisis and responses?
Crisis and responses was written by Stephen G. Cecchetti.
When was Crisis and responses published?
The publication date for this specific edition is 2008. The original work may have been published on a different date.