Innovative Federal Reserve Policies During the Great Financial Crisis Book

Innovative Federal Reserve Policies During the Great Financial Crisis


  • Author : Kaufman George G
  • Publisher : World Scientific
  • Release Date : 2000-08-03
  • Genre: Business & Economics
  • Pages : 316
  • ISBN 10 : 9789813236608

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Innovative Federal Reserve Policies During the Great Financial Crisis Excerpt :

This book, Innovative Federal Policies During the Great Financial Crisis, contains discussions of unconventional monetary policies, policy changes to address systemic and payments systems risks, new macroprudential policies, the 'stretching' of the financial safety net, changes in the Fed's liquidity funding facility (the discount window), use of the Fed's balance sheet as a tool of monetary policy, and alternative means to deal with real-estate asset bubbles and potential financial instability. The 10 chapters in this book offer a unique analysis of several innovative approaches by the Federal Reserve that contributed to the stabilization of the US economy following the Great Recession. What unique policies were implemented? Toward what goal? Were they effective? Were there unintended consequences? Additionally, but less thoroughly, events in the Euro market are also discussed, and policies (and their impact) of the ECB are critiqued. Based on papers presented at the 91st Annual Conference of the Western Economic Association International Meetings in Portland, Oregon, 2016, Innovative Federal Policies During the Great Financial Crisis adds significantly to the debate over why innovative or unconventional policies were needed, how they were implemented and how effective they were.

The Financial Crisis Inquiry Report  Authorized Edition Book
Score: 5
From 1 Ratings

The Financial Crisis Inquiry Report Authorized Edition


  • Author : Financial Crisis Inquiry Commission
  • Publisher : Public Affairs
  • Release Date : 2011-01-27
  • Genre: Business & Economics
  • Pages : 545
  • ISBN 10 : 9781610390415

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The Financial Crisis Inquiry Report Authorized Edition Excerpt :

Examines the causes of the financial crisis that began in 2008 and reveals the weaknesses found in financial regulation, excessive borrowing, and breaches in accountability.

In FED We Trust Book
Score: 4
From 6 Ratings

In FED We Trust


  • Author : David Wessel
  • Publisher : Currency
  • Release Date : 2009-08-04
  • Genre: Business & Economics
  • Pages : 336
  • ISBN 10 : 9780307459701

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In FED We Trust Excerpt :

“Whatever it takes” That was Federal Reserve Chairman Ben Bernanke’s vow as the worst financial panic in more than fifty years gripped the world and he struggled to avoid the once unthinkable: a repeat of the Great Depression. Brilliant but temperamentally cautious, Bernanke researched and wrote about the causes of the Depression during his career as an academic. Then when thrust into a role as one of the most important people in the world, he was compelled to boldness by circumstances he never anticipated. The president of the United States can respond instantly to a missile attack with America’s military might, but he cannot respond to a financial crisis with real money unless Congress acts. The Fed chairman can. Bernanke did. Under his leadership the Fed spearheaded the biggest government intervention in more than half a century and effectively became the fourth branch of government, with no direct accountability to the nation’s voters. Believing that the economic catastrophe of the 1930s was largely the fault of a sluggish and wrongheaded Federal Reserve, Bernanke was determined not to repeat that epic mistake. In this penetrating look inside the most powerful economic institution in the world, David Wessel illuminates its opaque and undemocratic inner workings, while revealing how the Bernanke Fed led the desperate effort to prevent the world’s financial engine from grinding to a halt. In piecing together the fullest, most authoritative, and alarming picture yet of this decisive moment in our nation’s history, In Fed We Trust answers the most critical questions. Among them: • What did Bernanke and his team at the Fed know–and what took them by surprise? Which of their actions stretched–or even ripped through–the Fed’s legal authority? Which chilling numbers and indicators made them feel they had no choice? • What were they thinking at pivotal moments during the race to sell Bear Stearns, the unsuccessful quest to save Lehman Brothers,

Stewards of the Market Book

Stewards of the Market


  • Author : Mitchel Y. Abolafia
  • Publisher : Unknown
  • Release Date : 2020
  • Genre: United States
  • Pages : 224
  • ISBN 10 : 9780674980785

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Stewards of the Market Excerpt :

"Mitchel Abolafia goes behind the scenes with the Federal Reserve's powerful Open Market Committee as it responded to the 2008-2009 financial crisis. Relying on verbatim transcripts of closed meetings, Abolafia shows how assumptions about self-correcting markets stymied the Fed and how its leaders came to embrace new ideas"--

The Financial Crisis and Federal Reserve Policy Book

The Financial Crisis and Federal Reserve Policy


  • Author : L. Thomas
  • Publisher : Springer
  • Release Date : 2011-03-28
  • Genre: Business & Economics
  • Pages : 262
  • ISBN 10 : 9780230118072

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The Financial Crisis and Federal Reserve Policy Excerpt :

This new book will provide an extensive analysis of the role of the Federal Reserve in contributing to the crisis through its low interest-rate policy during 2002-2006, and in dealing with the crisis under Bernanke with his aggressive and innovative policies implemented in the wake of the Lehman collapse in September 2008.

Rethinking the Financial Crisis Book

Rethinking the Financial Crisis


  • Author : Alan S. Blinder
  • Publisher : Russell Sage Foundation
  • Release Date : 2013-01-03
  • Genre: Business & Economics
  • Pages : 376
  • ISBN 10 : 9781610448154

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Rethinking the Financial Crisis Excerpt :

Some economic events are so major and unsettling that they “change everything.” Such is the case with the financial crisis that started in the summer of 2007 and is still a drag on the world economy. Yet enough time has now elapsed for economists to consider questions that run deeper than the usual focus on the immediate causes and consequences of the crisis. How have these stunning events changed our thinking about the role of the financial system in the economy, about the costs and benefits of financial innovation, about the efficiency of financial markets, and about the role the government should play in regulating finance? In Rethinking the Financial Crisis, some of the nation’s most renowned economists share their assessments of particular aspects of the crisis and reconsider the way we think about the financial system and its role in the economy. In its wide-ranging inquiry into the financial crash, Rethinking the Financial Crisis marshals an impressive collection of rigorous and yet empirically-relevant research that, in some respects, upsets the conventional wisdom about the crisis and also opens up new areas for exploration. Two separate chapters–by Burton G. Malkiel and by Hersh Shefrin and Meir Statman – debate whether the facts of the financial crisis upend the efficient market hypothesis and require a more behavioral account of financial market performance. To build a better bridge between the study of finance and the “real” economy of production and employment, Simon Gilchrist and Egan Zakrasjek take an innovative measure of financial stress and embed it in a model of the U.S. economy to assess how disruptions in financial markets affect economic activity—and how the Federal Reserve might do monetary policy better. The volume also examines the crucial role of financial innovation in the evolution of the pre-crash financial system. Thomas Philippon documents the huge increase in the size of the financial services industry relative to rea

Financial Crises Explanations  Types  and Implications Book

Financial Crises Explanations Types and Implications


  • Author : Mr.Stijn Claessens
  • Publisher : International Monetary Fund
  • Release Date : 2013-01-30
  • Genre: Business & Economics
  • Pages : 66
  • ISBN 10 : 9781475561005

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Financial Crises Explanations Types and Implications Excerpt :

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

This Time Is Different Book
Score: 3.5
From 10 Ratings

This Time Is Different


  • Author : Carmen M. Reinhart
  • Publisher : Princeton University Press
  • Release Date : 2011-08-07
  • Genre: Business & Economics
  • Pages : 463
  • ISBN 10 : 9780691152646

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This Time Is Different Excerpt :

Examines financial crises of the past and discusses similarities between these events and the current crisis, presenting and comparing historical patterns in bank failures, inflation, debt, currency, housing, employment, and government spending.

The Federal Reserve System Purposes and Functions Book

The Federal Reserve System Purposes and Functions


  • Author : Bd of Governors of the Federal Reserve
  • Publisher : Unknown
  • Release Date : 2002
  • Genre: Business & Economics
  • Pages : 168
  • ISBN 10 : 0894991965

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The Federal Reserve System Purposes and Functions Excerpt :

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

The Economic Crisis in Retrospect Book

The Economic Crisis in Retrospect


  • Author : Robert M. Whaples
  • Publisher : Edward Elgar Publishing
  • Release Date : 2013-01-01
  • Genre: Business & Economics
  • Pages : 208
  • ISBN 10 : 9781782545330

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The Economic Crisis in Retrospect Excerpt :

'If there is a single message that emerges from the wonderful essays contained in this volume, it is that economics is hard. The fact that virtually all economists agree on a handful of simple truths that describe the marketplace belies the fact that, when push comes to shove, dynamic economic processes are notoriously difficult to understand and control. The Economic Crisis in Retrospect provides the reader with a window into how some of the most perceptive economic thinkers of the last two centuries have wrestled with these issues.' Steven G. Medema, University of Colorado, US 'When the financial crisis hit, Ben Bernanke defended the economics profession by arguing that economists such as Bagehot and Thornton had a complete analysis of financial crises. Unfortunately, until the crisis hit, most economics students had never heard of, let alone read, either. That's sad, and this book provides an excellent entrée into past economists' insights and how they relate to the financial crisis. It is a useful read.' David C. Colander, Middlebury College, US 'With apologies to Santayana. . . this excellent work shows that those who can remember past economic thought are condemned to repeat the insights of major economic thinkers and show their relevance by applying them to contemporary economic issues.' Steven Pressman, Monmouth University, US As the United States continues its slow recovery from the global financial crisis of 2008, politicians, policymakers and academics are increasingly turning to the lessons of history to gain insight into how we might address both current and future economic challenges. This volume offers contributions by eminent economists and historians, each commenting on the theories of a particular 20th century economist and the ways in which those theories apply to modern economic thought. Presented in rough chronological order of the lives of the featured economists, these chapters tackle a number of major economic issues, including the role of c

Structural Foundations of Monetary Policy Book

Structural Foundations of Monetary Policy


  • Author : Michael Bordo
  • Publisher : Hoover Press
  • Release Date : 2018-03-01
  • Genre: Business & Economics
  • Pages : 200
  • ISBN 10 : 9780817921361

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Structural Foundations of Monetary Policy Excerpt :

In The Structural Foundations of Monetary Policy, Michael D. Bordo, John H. Cochrane, and Amit Seru bring together discussions and presentations from the Hoover Institution's annual monetary policy conference. The conference participants discuss long-run monetary issues facing the world economy, with an emphasis on deep, unresolved structural questions. They explore vital issues affecting the Federal Reserve, the United States' central bank. They voice concern over the Fed's independence, governance, and ability to withstand future shocks and analyze the effects of its monetary policies and growing balance sheet in the wake of the 2008 financial crisis. The authors ask a range of questions that get to the heart of twenty-first-century monetary policy. Finally they propose reforms to ensure that the Fed will remain independent, stable, strong, and resilient in an unpredictable world.

Firefighting Book

Firefighting


  • Author : Ben S. Bernanke
  • Publisher : Penguin
  • Release Date : 2019-04-16
  • Genre: Business & Economics
  • Pages : 240
  • ISBN 10 : 9780525506270

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Firefighting Excerpt :

"Should be required reading for all policy makers.” —Warren Buffett From the three primary architects of the American policy response to the worst economic catastrophe since the Great Depression, a magnificent big-picture synthesis--from why it happened to where we are now. In 2018, Ben Bernanke, Tim Geithner, and Hank Paulson came together to reflect on the lessons of the 2008 financial crisis ten years on. Recognizing that, as Ben put it, "the enemy is forgetting," they examine the causes of the crisis, why it was so damaging, and what it ultimately took to prevent a second Great Depression. And they provide to their successors in the United States and the finance ministers and central bank governors of other countries a valuable playbook for reducing the damage from future financial crises. Firefighting provides a candid and powerful account of the choices they and their teams made during the crisis, working under two presidents and with the leaders of Congress.

Across the Great Divide Book

Across the Great Divide


  • Author : Martin Neil Baily
  • Publisher : Hoover Institution Press
  • Release Date : 2014-11-01
  • Genre: Business & Economics
  • Pages : 424
  • ISBN 10 : 9780817917845

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Across the Great Divide Excerpt :

The financial crisis of 2008 devastated the American economy and caused U.S. policymakers to rethink their approaches to major financial crises. More than five years have passed since the collapse of Lehman Brothers, but questions still persist about the best ways to avoid and respond to future financial crises. In Across the Great Divide, a co-publication with Brookings Institution, contributing economic and legal scholars from academia, industry, and government analyze the financial crisis of 2008, from its causes and effects on the U.S. economy to the way ahead. The expert contributors consider post-crisis regulatory policy reforms and emerging financial and economic trends, including the roles played by highly accommodative monetary policy, securitization run amok, government-sponsored enterprises (GSEs), large asset bubbles, excessive leverage, and the Federal funds rate, among other potential causes. They discuss the role played by the Federal Reserve and examine the concept of "too big to fail." And they review and assess resolution frameworks, considering experiences with Lehman Bros. and other firms in the crisis, Title II of the Dodd-Frank Act, and the Chapter 14 bankruptcy code proposal.

The Federal Reserve and the Financial Crisis Book

The Federal Reserve and the Financial Crisis


  • Author : Ben Bernanke
  • Publisher : Princeton University Press
  • Release Date : 2015-02-22
  • Genre: Business & Economics
  • Pages : 144
  • ISBN 10 : 9780691165578

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The Federal Reserve and the Financial Crisis Excerpt :

Collects the best of a series of lectures that U.S. Reserve Chairman Ben Bernanke gave about the financial crisis at George Washington University in 2012, offering insight into the guiding principles behind the Fed's activities and the lessons to be learned from its handling of recent economic challenges.

Collusion Book
Score: 5
From 1 Ratings

Collusion


  • Author : Nomi Prins
  • Publisher : Bold Type Books
  • Release Date : 2018-05-01
  • Genre: Business & Economics
  • Pages : 384
  • ISBN 10 : 9781568585635

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Collusion Excerpt :

In this searing exposé, former Wall Street insider Nomi Prins shows how the 2007-2008 financial crisis turbo-boosted the influence of central bankers and triggered a massive shift in the world order. Central banks and international institutions like the IMF have overstepped their traditional mandates by directing the flow of epic sums of fabricated money without any checks or balances. Meanwhile, the open door between private and central banking has ensured endless opportunities for market manipulation and asset bubbles--with government support. Through on-the-ground reporting, Prins reveals how five regions and their central banks reshaped economics and geopolitics. She discloses how Mexico navigated its relationship with the US while striving for independence and how Brazil led the BRICS countries to challenge the US dollar's hegemony. She explains how China's retaliation against the Fed's supremacy is aiding its ongoing ascent as a global superpower and how Japan is negotiating the power shift from the West to the East. And she illustrates how the European response to the financial crisis fueled instability that manifests itself in everything from rising populism to the shocking Brexit vote. Packed with tantalizing details about the elite players orchestrating the world economy--from Janet Yellen and Mario Draghi to Ben Bernanke and Christine Lagarde--Collusion takes the reader inside the most discreet conversations at exclusive retreats like Jackson Hole and Davos. A work of meticulous reporting and bracing analysis, Collusion will change the way we understand the new world of international finance.