| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20755 |
| 来源ID | Working Paper 20755 |
| The Evolution of the Federal Reserve Swap Lines since 1962 | |
| Michael D. Bordo; Owen F. Humpage; Anna J. Schwartz | |
| 发表日期 | 2014-12-22 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | In this paper, we describe the evolution of the Federal Reserve’s swap lines from their inception in 1962 as a mechanism to forestall claims on U.S gold reserves under Bretton Woods to a means of extending emergency dollar liquidity during the Great Recession. We describe a number of consequences associated with swap operations. We argue, for example, that swaps calm crisis situations by both supplementing foreign countries’ dollar reserves and by signaling central-bank cooperation. We show how swaps exposed the Federal Reserve to conditionality and raised fears that they bypassed the Congressional appropriations process. |
| 主题 | International Economics ; International Finance ; History ; Financial History |
| URL | https://www.nber.org/papers/w20755 |
| 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/578430 |
| 推荐引用方式 GB/T 7714 | Michael D. Bordo,Owen F. Humpage,Anna J. Schwartz. The Evolution of the Federal Reserve Swap Lines since 1962. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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