| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24866 |
| 来源ID | Working Paper 24866 |
| The Run on Repo and the Fed's Response | |
| Gary Gorton; Toomas Laarits; Andrew Metrick | |
| 发表日期 | 2018-07-30 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | The Financial Crisis began and accelerated in short-term money markets. One such market is the multi-trillion dollar sale-and-repurchase (“repo”) market, where prices show strong reactions during the crisis. The academic literature and policy community remain unsettled about the role of repo runs, because detailed data on repo quantities is not available. We provide quantity evidence of the run on repo through an examination of the collateral brought to emergency liquidity facilities of the Federal Reserve. We show that the magnitude of repo discounts (“haircuts”) on specific collateral is related to the likelihood of that collateral being brought to Fed facilities. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy ; Financial Economics |
| URL | https://www.nber.org/papers/w24866 |
| 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/582540 |
| 推荐引用方式 GB/T 7714 | Gary Gorton,Toomas Laarits,Andrew Metrick. The Run on Repo and the Fed's Response. 2018. |
| 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 | ||
| w24866.pdf（278KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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