| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27898 |
| 来源ID | Working Paper 27898 |
| Monetary Policy Cooperation\/Coordination and Global Financial Crises in Historical Perspective | |
| Michael D. Bordo | |
| 发表日期 | 2020-10-05 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The COVID-19 pandemic spawned a global liquidity crisis in March 2020. The global liquidity crisis was alleviated by the Federal Reserve and other advanced country central banks cooperating by extending the swap lines they developed in the Global Financial Crisis 2007-2008. Central bank cooperation in 2020 evolved from a two-century history across several monetary regimes that is surveyed in this paper. I find that in monetary regimes which are rules-based cooperation was most successful. International currency swaps developed to manage exchange rates during the Bretton Woods era have evolved into the leading tool to manage international liquidity crises. The swap network can be viewed as a step in the direction of a global financial safety net. |
| 主题 | Macroeconomics ; Monetary Policy ; International Economics ; International Finance ; History ; Financial History ; COVID-19 |
| URL | https://www.nber.org/papers/w27898 |
| 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/585571 |
| 推荐引用方式 GB/T 7714 | Michael D. Bordo. Monetary Policy Cooperation\/Coordination and Global Financial Crises in Historical Perspective. 2020. |
| 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 | ||
| w27898.pdf（557KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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