Similar Search Results

Treasury Safety, Liquidity, and Money Premium Dynamics : Evidence from Recent Debt Limit Impasses

Cashin, David B. - 2020

Treasury securities normally possess unparalleled safety and liquidity and, consequently, carry a money premium. We use … the money premium, safety, and liquidity. Our results shed light on Treasury market dynamics specifically, and debt more …. Meanwhile, changes in liquidity only affected the money premium during the impasses. Next, we show that Treasury safety and …

Persistent link: https://www.econbiz.de/10012834175

Near-Money Premiums, Monetary Policy, and the Integration of Money Markets : Lessons from Deregulation

Carlson, Mark A. - 2016

The 1960s and 1970s witnessed rapid growth in the markets for new money market instruments, such as negotiable certificates of deposit (CDs) and Eurodollar deposits, as banks and investors sought ways around various regulations affecting funding markets. In this paper, we investigate the impacts...

Persistent link: https://www.econbiz.de/10013210453

Macroeconomic Effects of Capital Tax Rate Changes

Bhattarai, Saroj; Lee, Jae Won; Park, Woong Yong; Yang, … - 2022

We study aggregate, distributional, and welfare effects of a permanent reduction in the capital tax rate in a quantitative model with capital-skill complementarity and household heterogeneity. Such a tax reform leads to expansionary long-run aggregate output and investment effects, but those are...

Persistent link: https://www.econbiz.de/10014083466

Motivating Banks to Lend? Credit Spillover Effects of the Main Street Lending Program

Minoiu, Camelia; Zarutskie, Rebecca; Zlate, Andrei - 2021

We study the effects of the Main Street Lending Program (MSLP)—an emergency lending program aimed at supporting the flow of credit to small and mid-sized firms during the COVID-19 crisis on bank lending to businesses. Using instrumental variables for identification and multiple loan-level and...

Persistent link: https://www.econbiz.de/10013309920

The Effect of Central Bank Liquidity Injections on Bank Credit Supply

Carpinelli, Luisa; Crosignani, Matteo - 2017

We study the effectiveness of central bank liquidity injections in restoring bank credit supply following a wholesale …

Persistent link: https://www.econbiz.de/10014352393

A Brief History of the 1987 Stock Market Crash With a Discussion of the Federal Reserve Response

Carlson, Mark A. - 2007

provision of liquidity, in a highly visible fashion …

Persistent link: https://www.econbiz.de/10012730207

The Demand for Short-Term, Safe Assets and Financial Stability : Some Evidence and Implications for Central Bank Policies

Carlson, Mark A. - 2014

A number of researchers have recently argued that the growth of the shadow banking system in the years preceding the recent U.S. financial crisis was driven by rising demand for "money-like" claims — short-term, safe instruments (STSI) — from institutional investors and nonfinancial firms....

Persistent link: https://www.econbiz.de/10013043000

New financial stability governance structures and central banks

Edge, Rochelle M.; Liang, Jean Nellie - 2019

We evaluate the institutional frameworks developed to implement time-varying macroprudential policies in 58 countries. We focus on new financial stability committees (FSCs) that have grown dramatically in number since the global financial crisis, and their interaction with central banks, and...

Persistent link: https://www.econbiz.de/10012018438

A Macroprudential Perspective on the Regulatory Boundaries of U.S. Financial Assets

Arseneau, David M.; Brang, Grace; Darst, Matthew; … - 2022

This paper uses data from the Financial Accounts of the United States to map out the regulatory boundaries of assets held by U.S. financial institutions from a macroprudential perspective. We provide a quantitative measure of the regulatory perimeter—the boundary between the part of the...

Persistent link: https://www.econbiz.de/10013307927

Distress in the Financial Sector and Economic Activity

Carlson, Mark A. - 2010

This paper explores the relationship between the health of the financial sector and the rest of the economy. We develop an indicator of financial sector health using a distance-to-default measure based on a Merton-style option pricing model. Our measure spans over three decades and appears to...

Persistent link: https://www.econbiz.de/10013136451

1
2
3
4
5
6
7
8
9
10
Next
Last