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Floating a "lifeboat" : the Banque de France and the crisis of 1889
White, Eugene N.; Hautcoeur, Pierre-Cyrille; Riva, Angelo - 2014
to counter a panic by lending freely at a high rate on good collateral, allowing insolvent institutions to fail. …
Persistent link: https://www.econbiz.de/10010361484
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Central Bank Liquidity During the Financial Market and Economic Crisis : Observations, Thoughts and Questions
Pikkarainen, Pentti - 2011
​The paper concentrates on illustrating and assessing central banks' liquidity operations during the crisis that started in August 2007. In addition to the ECB, the central banks of Sweden, Switzerland, the United Kingdom, Australia, Japan, Canada and the United States are analyzed. During the...
Persistent link: https://www.econbiz.de/10013130409
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The General Theory as "depression economics"? : financial instability and crises in Keynes's monetary thought
Bibow, Jörg - 2020
This paper revisits Keynes's writings from Indian Currency and Finance (1913) to The General Theory (1936) with a focus on financial instability. The analysis reveals Keynes's astute concerns about the stability/fragility of the banking system, especially under deflationary conditions. Keynes's...
Persistent link: https://www.econbiz.de/10012291986
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Buried in the vaults of central banks : monetary gold hoarding and the slide into the Great Depression
Karau, Sören - 2020 - This draft: October 2020
of narrative information to sharpen shock identification in a structural VAR analysis based on sign restrictions …
Persistent link: https://www.econbiz.de/10012405992
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The Federal Reserve in times of economic crisis : paths and choices since 2007
Rüdiger, Sina - 2013
This paper studies the actions of the U.S. Federal Reserve Bank during the financial crisis from 2007-2012. Whereas the first two parts concentrate on asset bubble theory and the development of the housing bubble, the third part rates the performance of the Federal Reserve during the crisis. The...
Persistent link: https://www.econbiz.de/10010188739
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Central banking in the aftermath of the global economic crisis
Bezhoska, Anita Angelovska - Narodna Banka na Republika Makedonija - 2019
The worldwide financial crisis revealed that some of the basic consensuses concerning the macroeconomic policy framework and the roles of the central banks were no longer tenable. This prompted rethinking of central bank objectives, strategies and policy instruments, with particular focus on the...
Persistent link: https://www.econbiz.de/10012211862
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Lessons of the European Crisis for Regional Monetary and Financial Integration in East Asia
Volz, Ulrich - 2012
The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional monetary integration and even monetary unification in...
Persistent link: https://www.econbiz.de/10013110301
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The Great Recession, the US Fed, and the Lessons Learned
Al-Ahmad, Zeina - 2014
This paper is an endeavor to outline the Federal Reserve System's theoretical perspective of the financial market during the last three decades. It is a glimpse into the policies of regulatory authorities at the Fed whose designed path of financial growth led the US economy to its worst crisis...
Persistent link: https://www.econbiz.de/10013051260
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Central Bank's Value at Risk and Financial Crises : An Application to the 2001 Argentine Crisis
Nocetti, Diego - 2009
Blejer and Schumacher (1999) were the first to suggest that Central Bank's Value at Risk (VaR), a widely used composite measure of potential portfolio losses in the corporate sector, could be used as an early warning indicator of financial crises. We extend their research in two aspects. First,...
Persistent link: https://www.econbiz.de/10013157233
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How Central Banks End Crises
Gorton, Gary B. - 2014
To end a financial crisis, the central bank is to lend freely, against good collateral, at a high rate, according to … individual collateral from being produced and to create an information externality by raising the perceived value of average … collateral. Ironically, the participation of "bad" borrowers, with low quality collateral, in the central bank's lending program …
Persistent link: https://www.econbiz.de/10013048087