The Great Escape? A Quantitative Evaluation of the Fed's Liquidity Facilities

We introduce liquidity frictions into an otherwise standard DSGE model with nominal and real rigidities and ask: can a shock to the liquidity of private paper lead to a collapse in short-term nominal interest rates and a recession like the one associated with the 2008 US financial crisis? Once the n...

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Bibliographische Detailangaben

Veröffentlicht in:	The American Economic Review. - The American Economic Association. - 107(2017), 3, Seite 824-857
1. Verfasser:	Del Negro, Marco (VerfasserIn)
Weitere Verfasser:	Eggertsson, Gauti, Ferrero, Andrea, Kiyotaki, Nobuhiro
Format:	Online-Aufsatz
Sprache:	English
Veröffentlicht:	2017
Zugriff auf das übergeordnete Werk:	The American Economic Review
Schlagworte:	Economics Applied sciences Information science Business