This paper examines the link between the federal funds and repo markets, before, during, and emerging from the financial crisis that began in August 2007. In particular, the paper investigates the initial transmission of monetary policy to closely related money markets, pricing of risk, and...

This paper examines the link between the federal funds and repo markets, before, during, and emerging from the financial crisis that began in August 2007. In particular, the paper investigates the initial transmission of monetary policy to closely related money markets, pricing of risk, and...

This paper examines the interplay between the federal funds and repo markets, two key markets for monetary policy implementation, before, during, and after the financial crisis that began in August 2007. Overall, the results suggest that the federal funds rate communicated policy to the repo...