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Would a Bagehot style corporate bond backstop have helped counter the Great Recession?
Duca, John V.; Murphy, Anthony - In: Economics Letters 119 (2013) 3, pp. 351-353
In 2008, US corporate bond spreads almost reached Great Depression levels. The Fed was a lender of last resort in commercial paper, but not corporate bonds. The Fed’s FRB/US macroeconomic model is used to simulate the effects of the Fed successfully capping the BBB-10 year Treasury spread at...
Persistent link: https://www.econbiz.de/10010664132
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Simple LM tests of mis-specification for ordered logit models
Murphy, Anthony - In: Economics Letters 52 (1996) 2, pp. 137-141
Persistent link: https://www.econbiz.de/10005296422
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Score tests of normality in bivariate probit models
Murphy, Anthony - In: Economics Letters 95 (2007) 3, pp. 374-379
Persistent link: https://www.econbiz.de/10005355856
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A piecewise-constant hazard-rate model for the duration of unemployment in single-interview samples of the stock of unemployed
Murphy, Anthony - In: Economics Letters 51 (1996) 2, pp. 177-183
Persistent link: https://www.econbiz.de/10005270498