The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis
This paper provides evidence that central bank interventions had a statistically significant impact on easing stress in unsecured interbank markets during the first phase of the subprime crisis which began in July 2007. Extraordinary liquidity provisions, such as the Term Auction Facility by the Federal Reserve, are analyzed. First a... READ MORE...

Publication date: September 2009
ISBN 9781451873535
$18.00

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