Aizenman, Joshua; Pasricha, Gurnain Kaur - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines … find that exposure of US banks to EMs is the most important selection criterion for explaining the 'selected four' swap-lines …, emergency swap-lines may prevent or mitigate costly liquidation today, allowing investment projects to reach maturity and …