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The Nordic bank resolution is widely regarded as among the most successful in history. ; Also issued as Monetary Trends, April 2009
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Most analysts have concluded that the LSAP successfully reduced long-term market interest rates. How, exactly, do LSAP-style programs succeed?
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Monitoring of prices is essential lest future adjustments be misunderstood by the public as part of the dynamics of aggressive monetary policy.
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The fluctuations in home construction (and prices) have been widely discussed, but swings in the financial services sector also are important elements of economic activity within U.S. states.
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Paying interest on reserves should allow us to better control the federal funds rate.
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A bankers' acceptance is created when a bank agrees to `accept,' or guarantee, a future payment between two firms.
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Federal Reserve programs during the recent financial crisis sought to provide liquidity to individual firms or industries. An interesting additional question is whether the aggregate amount of liquidity in the economy was appropriate before and during the recent financial crisis.
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