15 Pages Posted: 18 Dec 2010
Date Written: December 16, 2010
In response to recessions beginning in 1973, 2001, and 2007, the federal government provided financial aid to states, with the dual goals of stabilizing state finances and stimulating the economy. The timing of fund provision and the ultimate allocation of funds were often less than optimal. The authors look at how to design a more effective process for starting and stopping state aid.
Keywords: securitization, credit crises, TALF
Suggested Citation: Suggested Citation
Agarwal, Sumit and Barrett, Jacqueline and Cun, Crystal and De Nardi, Mariacristina, The Asset-Backed Securities Markets, the Crisis, and TALF (December 16, 2010). Economic Perspectives, Vol. 34, No. 4, 2010; FRB of Chicago Working Paper . Available at SSRN: https://ssrn.com/abstract=1726548