Crisis and responses
Subtitle: the federal reserve and the financial crisis of 2007-2008
By: Stephen G. Cecchetti.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series -- working paper 14134; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 14134.
Publisher: National Bureau of Economic Research
Published: 2008
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
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.
Notes: Title from PDF file as viewed on 7/18/2008.

Includes bibliographical references.

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