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The buildup of reserves in the U.S. banking system during the financial crisis has fueled concerns that the Federal Reserve's policies may have failed to stimulate the flow of credit in the economy: Banks, it appears, are amassing funds rather than lending them out. However, a careful...
Persistent link: https://www.econbiz.de/10013148517
The quantity of reserves in the U.S. banking system has risen dramatically since September 2008. Some commentators have expressed concern that this pattern indicates that the Federal Reserve's liquidity facilities have been ineffective in promoting the flow of credit to firms and households....
Persistent link: https://www.econbiz.de/10013157642
The quantity of reserves in the U.S. banking system has risen dramatically since September 2008. Some commentators have expressed concern that this pattern indicates that the Federal Reserve’s liquidity facilities have been ineffective in promoting the flow of credit to firms and households....
Persistent link: https://www.econbiz.de/10003864590
Persistent link: https://www.econbiz.de/10009349274
My dissertation focuses on topics in household finance and bank regulation. In chapter 1, I estimate the household consumption response to a predictable, quasi-permanent income shock. Credit card spending rises well before the positive shock occurs and then plateaus, suggesting that households...
Persistent link: https://www.econbiz.de/10012961201
[...]This article outlines a different approach to the study ofLSMs in a payments system. It examines a theoretical modelof the behavior of parties, which for simplicity we refer to asbanks. Each bank has particular motivations and constraints;as a result, its behavior can be determined as an...
Persistent link: https://www.econbiz.de/10005869402
[...]In this article, we measure banks’ alternative fundingsources for Fedwire funds transfers throughout the day, usinga data set that includes all banks’ Fedwire funds transfers andFederal Reserve System deposits. This approach allows us togauge the importance of incoming payments as a...
Persistent link: https://www.econbiz.de/10005870019
Persistent link: https://www.econbiz.de/10000900434
Persistent link: https://www.econbiz.de/10000870719
The failure and near-collapse of some of the largest dealer banks on Wall Street in 2008 highlighted the profound complexity of the industry. Dealer banks are financial intermediaries that make markets for many securities and derivatives. Like standard banks, funding for a loan made by a dealer...
Persistent link: https://www.econbiz.de/10013055803