In the midst of the worst economic crisis since the Great Depression, policy makers in the U. S. and in other nations have reduced interest rates, expanded central bank balance sheets, increased deficits to levels generally not seen since World War II, and begun seriously rethinking financial...

A number of debates are taking place regarding the appropriate response of monetary policy both to the crisis and the Great Recession that followed, particularly in regard to interest on reserve balances and so-called unconventional monetary policy operations. This paper describes in detail an...

This chapter utilizes the social fabric matrix approach (SFM-A) to provide a detailed description of the Federal Reserve's (Fed's) daily operations and the recent financial crisis. The SFM of the Fed's operations presents the primary components- major norms, institutions, technologies- relevant...