Similar Search Results

COVID Response : The Municipal Liquidity Facility

Haughwout, Andrew; Hyman, Benjamin; Shachar, Or - 2021

responsibilities. In April 2020, the Federal Reserve announced the establishment of the Municipal Liquidity Facility (MLF) to help …

Persistent link: https://www.econbiz.de/10013211407

The Option Value of Municipal Liquidity : Evidence from Federal Lending Cutoffs during COVID-19

Haughwout, Andrew; Hyman, Benjamin; Shachar, Or - 2021

We estimate the option value of municipal liquidity by studying bond market activity and public sector hiring decisions … eligibility population cutoffs introduced by the federal sector’s Municipal Liquidity Facility (MLF) to study the effects of an … emergency liquidity option on yields, primary debt issuance, and public sector employment. We find that while the announcement …

Persistent link: https://www.econbiz.de/10013322528

Central Bank Transparency and the Crowding Out of Private Information in an Experimental Asset Market

Middeldorp, Menno H. - 2011

Central banks have become increasingly communicative. An important reason is that democratic societies expect more transparency from public institutions. Central bankers, based on empirical research, also believe that sharing information has economic benefits. Communication is seen as a way to...

Persistent link: https://www.econbiz.de/10013128675

Central Bank Transparency, the Accuracy of Professional Forecasts, and Interest Rate Volatility

Middeldorp, Menno H. - 2011

Central banks worldwide have become more transparent. An important reason is that democratic societies expect more openness from public institutions. Policymakers also see transparency as a way to improve the predictability of monetary policy, thereby lowering interest rate volatility and...

Persistent link: https://www.econbiz.de/10013124570

FOMC Communication Policy and the Accuracy of Fed Funds Futures

Middeldorp, Menno H. - 2011

Over the last two decades, the Federal Open Market Committee (FOMC), the rate-setting body of the United States Federal Reserve System, has become increasingly communicative and transparent. According to policymakers, one of the goals of this shift has been to improve monetary policy...

Persistent link: https://www.econbiz.de/10013126070