Models of Discount Window Lending: A Review

50 Pages Posted: 18 Feb 2017

See all articles by Huberto M. Ennis

Huberto M. Ennis

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 2016

Abstract

This article is a review of the literature that discusses the role of the central-bank discount window using explicit formal general equilibrium models of the economy. For each of the main papers in the literature, a description of the model and the main mechanisms at play is provided. To increase accessibility for a broad audience, the discussion attempts to keep at a minimum the more technical aspects of the subject. A deliberate effort is made to identify common features across models and some lessons that may be useful for policymaking.

Keywords: discount window

Suggested Citation

Ennis, Huberto M., Models of Discount Window Lending: A Review (2016). Economic Quarterly, Issue 1Q, pp. 1-50, 2016. Available at SSRN: https://ssrn.com/abstract=2919784 or http://dx.doi.org/10.21144/eq1020101

Huberto M. Ennis (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

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