Aizenman, Joshua; Pasricha, Gurnain Kaur - In: International Review of Economics & Finance 19 (2010) 3, pp. 353-365
This paper explores the logic inducing the FED to extend unprecedented swap-lines to four emerging markets in September 2008. Exposure of US banks to EMs turned out to be the most important selection criterion for explaining the "selected four" swap-lines. This result is consistent with the...