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$29,000,000,000,000 : a detailed look at the Fed's bailout by funding facility and recipient
Felkerson, James - 2011
examination of the data on the Fed's bailout of the financial system - the most comprehensive investigation of the raw data to … and magnitude of the Fed's crisis response. The bottom line: a Federal Reserve bailout commitment in excess of $29 … trillion. -- Global Financial Crisis ; Fed Bailout ; Lender of Last Resort ; Term Auction Facility ; Central Bank Liquidity …
Persistent link: https://www.econbiz.de/10009388800
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Minsky, monetary policy, and mint street : challenges for the art of monetary policymaking in emerging economies
Yanamandra, Srinivas - 2014
This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003-04 to 2013-14). The paper uses Hyman P. Minsky's financial instability hypothesis as...
Persistent link: https://www.econbiz.de/10010436173
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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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Global Financial Crisis : a Minskyan interpretation of the causes, the Fed's bailout, and the future
Wray, L. Randall - 2012
moves on to an examination of the US government's bailout of the global financial system. While other governments played a … role, the US Treasury and the Federal Reserve assumed much of the responsibility for the bailout. A detailed examination of … the biggest financial institutions. The paper closes with an assessment of the problems the bailout itself poses for the …
Persistent link: https://www.econbiz.de/10009515445
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Unconventional monetary policies and central bank profits : seigniorage as fiscal revenue in the aftermath of the global financial crisis
Bibow, Jörg - 2018
This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage) before and in the aftermath of the global financial crisis of 2008-9, focusing on a select group of central banks - namely the Bank of England, the United States Federal Reserve System, the Bank of...
Persistent link: https://www.econbiz.de/10011910944
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Minsky and the subprime mortgage crisis : the financial instability hypothesis in the era of financialization
Caverzasi, Eugenio - 2014
The aim of this paper is to develop a structural explanation of the subprime mortgage crisis, grounded on the combination of two apparently incompatible financial theories: the financial instability hypothesis by Hyman P. Minsky and the theory of capital market inflation by Jan Toporowski. Our...
Persistent link: https://www.econbiz.de/10010340278
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Lost at sea : the euro needs a Euro Treasury
Bibow, Jörg - 2013
The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is inherently flawed, and recent reforms have failed to turn this dysfunctional regime into a viable one. Our investigation is informed by the "cartalist" critique of traditional "optimum...
Persistent link: https://www.econbiz.de/10010204687
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ECB worries/European woes : the economic consequences of parochial policy
Barbera, Robert J.; Holtham, Gerald - 2012
Financial market crises with the threat of a subsequent debt-deflation depression have occurred with increasing regularity in the United States from 1980 through the present. Almost reflexively, when confronted with such circumstances, US institutions and the policymakers that run them have...
Persistent link: https://www.econbiz.de/10009783517
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Shadow banking : policy challenges for central banks
Moe, Thorvald - 2014
Central banks responded with exceptional liquidity support during the financial crisis to prevent a systemic meltdown. They broadened their tool kit and extended liquidity support to nonbanks and key financial markets. Many want central banks to embrace this expanded role as "market maker of...
Persistent link: https://www.econbiz.de/10010356675
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Shadow banking and the limits of central bank liquidity support : how to achieve a better balance between global and official liquidity
Moe, Thorvald - 2012
Global liquidity provision is highly procyclical. The recent financial crisis has resulted in a flight to safety, with severe strains in key funding markets leading central banks to employ highly unconventional policies to avoid a systemic meltdown. Bagehot's advice to 'lend freely at high rates...
Persistent link: https://www.econbiz.de/10009516740