Special Lending Facilities of the Fed: Actions and Results

Midwestern Business and Economic Review, 46: 35-41, Fall 2010

23 Pages Posted: 5 Sep 2012

See all articles by Ronald D. Gilbert

Ronald D. Gilbert

Texas Tech University

Vance Ginn

Texas Public Policy Foundation

Date Written: August 16, 2012

Abstract

In this paper, we examined monetary policy from August 2007, when the Fed engaged in its first unconventional action, through December 2009, when most of the Fed’s special lending facilities became inactive. However, the monetary base remained in excess of $2 trillion which was more than double its size when these lending facilities began. Two things are very clear. The quantity of the Fed’s assets has increased, and the quality has decreased.

Keywords: Unconventional Monetary Policy, Liquidity Programs, Interest Rate Spreads

JEL Classification: E52, E58, E43

Suggested Citation

Gilbert, Ronald D. and Ginn, Vance, Special Lending Facilities of the Fed: Actions and Results (August 16, 2012). Midwestern Business and Economic Review, 46: 35-41, Fall 2010. Available at SSRN: https://ssrn.com/abstract=2130917

Ronald D. Gilbert

Texas Tech University ( email )

2500 Broadway
Lubbock, TX 79409
United States

Vance Ginn (Contact Author)

Texas Public Policy Foundation ( email )

901 Congress Avenue
Austin, TX 78701
United States
7134785255 (Phone)

HOME PAGE: http://www.texaspolicy.com/experts/detail/vance-ginn

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