| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15809 |
| 来源ID | Working Paper 15809 |
| Market Response to Policy Initiatives during the Global Financial Crisis | |
| Yacine Aït-Sahalia; Jochen Andritzky; Andreas Jobst; Sylwia Nowak; Natalia Tamirisa | |
| 发表日期 | 2010-03-11 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia. Announcements of interest rate cuts, liquidity support, liability guarantees, and recapitalization were associated with a reduction of interbank risk premia, albeit to a different degree during the subprime and global phases of the crisis. Decisions not to reduce interest rates and bail out individual banks in an ad hoc manner had adverse repercussions, both domestically and abroad. The results are robust to controlling for the surprise content of announcements and using alternative measures of financial distress. |
| 主题 | Macroeconomics ; Fiscal Policy ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w15809 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573484 |
| 推荐引用方式 GB/T 7714 | Yacine Aït-Sahalia,Jochen Andritzky,Andreas Jobst,et al. Market Response to Policy Initiatives during the Global Financial Crisis. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15809.pdf（572KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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