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Off-balance-sheet liquidity and monetary control

Glick, Reuven; Plaut, Steven E. - Federal Reserve Bank of San Francisco - 1987

Persistent link: https://www.econbiz.de/10005078331

Dollar illiquidity and central bank swap arrangements during the global financial crisis

Rose, Andrew K.; Spiegel, Mark M. - Federal Reserve Bank of San Francisco - 2011

While the global financial crisis was centered in the United States, it led to a surprising appreciation in the dollar, suggesting global dollar illiquidity. In response, the Federal Reserve partnered with other central banks to inject dollars into the international financial system. Empirical...

Persistent link: https://www.econbiz.de/10009206325

Heeding Daedalus: Optimal inflation and the zero lower bound

Williams, John C. - Federal Reserve Bank of San Francisco - 2009

This paper reexamines the implications of the zero lower bound on interest rates for monetary policy and the optimal choice of steady-state inflation in light of the experience of the recent global recession. There are two main findings. First, the zero lower bound did not materially contribute...

Persistent link: https://www.econbiz.de/10008603769

Bank intermediation and persistent liquidity effects in the presence of a frictionless bond market

Einarsson, Tor; Marquis, Milton H. - Federal Reserve Bank of San Francisco - 2000

An “expansionary” monetary policy that increases the growth rate of bank reserves is generally believed by policy makers to induce a “liquidity effect”, or a persistent decline in short-term nominal interest rates, that stimulates real activity. Christiano, et al. (1991,1995,1997) have...

Persistent link: https://www.econbiz.de/10011026931

Bank intermediation and persistent liquidity effects in the presence of a frictionless bond market

Einarsson, Tor; Marquis, Milton H. - Federal Reserve Bank of San Francisco - 2000

Persistent link: https://www.econbiz.de/10005401595

On the limitations of government borrowing: a framework for empirical testing: comment

Trehan, Bharat; Walsh, Carl E. - Federal Reserve Bank of San Francisco - 1987

Persistent link: https://www.econbiz.de/10005078308

Bank capital requirements and incentives for lending

Jacklin, Charles - Federal Reserve Bank of San Francisco - 1993

Persistent link: https://www.econbiz.de/10005078315

Monetary policy and the theory of the risk-averse bank

Stiglitz, Joseph; Greenwald, Bruce - Federal Reserve Bank of San Francisco - 1993

Persistent link: https://www.econbiz.de/10005078332

A gravity model of sovereign lending: trade, default and credit

Rose, Andrew K.; Spiegel, Mark M. - Federal Reserve Bank of San Francisco - 2002

One reason why countries service their external debts is the fear that default might lead to shrinkage of international trade. If so, then creditors should systematically lend more to countries with which they share closer trade links. We develop a simple theoretical model to capture this...

Persistent link: https://www.econbiz.de/10010702196

Empirical analysis of corporate credit lines

Jiménez, Gabriel; Lopez, Jose A.; Saurina, Jesús - Federal Reserve Bank of San Francisco - 2007

Since bank credit lines are a major source of corporate funding and liquidity, we examine the determinants of credit … line usage with a database of Spanish corporate credit lines. A line's default status is the primary factor driving its … monitoring in firms' usage decisions. Credit line usage is found to be inversely related to macroeconomic conditions. Overall …

Persistent link: https://www.econbiz.de/10005712196