skip to content
Asset fire sales and credit easing Preview this item
ClosePreview this item
Checking...

Asset fire sales and credit easing

Author: Andrei Shleifer; Robert W Vishny; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, ©2010.
Series: Working paper series (National Bureau of Economic Research), no. 15652.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
In a January 2009 lecture on the financial crisis, Federal Reserve Chairman Bernanke advocated a new Fed policy of credit easing, defined as a combination of lending to financial institutions, providing liquidity directly to key credit markets, and buying of long term securities. We show that Bernanke's analysis and recommendations can be naturally considered in a model of "unstable banking," which relies on two  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Genre/Form: History
Named Person: Ben Bernanke; Ben Bernanke
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Andrei Shleifer; Robert W Vishny; National Bureau of Economic Research.
OCLC Number: 500846402
Notes: "January 2010."
Title from http://www.nber.org/papers/w15652 viewed Jan. 19, 2010.
Description: 1 online resource (13 pages).
Series Title: Working paper series (National Bureau of Economic Research), no. 15652.
Responsibility: Andrei Shleifer, Robert W. Vishny.

Abstract:

In a January 2009 lecture on the financial crisis, Federal Reserve Chairman Bernanke advocated a new Fed policy of credit easing, defined as a combination of lending to financial institutions, providing liquidity directly to key credit markets, and buying of long term securities. We show that Bernanke's analysis and recommendations can be naturally considered in a model of "unstable banking," which relies on two mechanisms: 1) fire sales reduce asset prices below fundamental values, and 2) financial institutions prefer speculation to new lending when markets are dislocated. We analyze credit easing and compare it to alternative government interventions during the crisis.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/500846402> # Asset fire sales and credit easing
    a schema:MediaObject, schema:Book, schema:CreativeWork ;
   library:oclcnum "500846402" ;
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/374133498#Place/cambridge_mass> ; # Cambridge, Mass.
   schema:about <http://experiment.worldcat.org/entity/work/data/374133498#Person/bernanke_ben> ; # Ben Bernanke
   schema:about <http://id.worldcat.org/fast/1204155> ; # United States.
   schema:about <http://dewey.info/class/330/> ;
   schema:about <http://experiment.worldcat.org/entity/work/data/374133498#Topic/credit_control_united_states_history_21st_century> ; # Credit control--United States--History--21st century
   schema:about <http://id.loc.gov/authorities/subjects/sh2009003683> ; # Global Financial Crisis, 2008-2009
   schema:about <http://experiment.worldcat.org/entity/work/data/374133498#Event/2000_2099> ; # 2000-2099
   schema:about <http://id.worldcat.org/fast/1755654> ; # Global Financial Crisis (2008-2009)
   schema:about <http://id.worldcat.org/fast/882577> ; # Credit control
   schema:about <http://viaf.org/viaf/59191744> ; # Ben Bernanke
   schema:bookFormat schema:EBook ;
   schema:contributor <http://viaf.org/viaf/135446122> ; # National Bureau of Economic Research.
   schema:contributor <http://viaf.org/viaf/59187003> ; # Robert Ward Vishny
   schema:copyrightYear "2010" ;
   schema:creator <http://viaf.org/viaf/69032571> ; # Andrei Shleifer
   schema:datePublished "2010" ;
   schema:description "In a January 2009 lecture on the financial crisis, Federal Reserve Chairman Bernanke advocated a new Fed policy of credit easing, defined as a combination of lending to financial institutions, providing liquidity directly to key credit markets, and buying of long term securities. We show that Bernanke's analysis and recommendations can be naturally considered in a model of "unstable banking," which relies on two mechanisms: 1) fire sales reduce asset prices below fundamental values, and 2) financial institutions prefer speculation to new lending when markets are dislocated. We analyze credit easing and compare it to alternative government interventions during the crisis."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/374133498> ;
   schema:genre "History"@en ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/374133498#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/374133498#Series/nber_working_paper_series> ; # NBER working paper series ;
   schema:name "Asset fire sales and credit easing"@en ;
   schema:productID "500846402" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/500846402#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2010> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/374133498#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
   schema:url <http://papers.nber.org/papers/w15652> ;
   schema:url <http://ezproxy.eui.eu/login?url=http://papers.nber.org/papers/w15652> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/500846402> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/374133498#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
   schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/374133498#Person/bernanke_ben> # Ben Bernanke
    a schema:Person ;
   schema:familyName "Bernanke" ;
   schema:givenName "Ben" ;
   schema:name "Ben Bernanke" ;
    .

<http://experiment.worldcat.org/entity/work/data/374133498#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
   schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/374133498#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/500846402> ; # Asset fire sales and credit easing
   schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/374133498#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/500846402> ; # Asset fire sales and credit easing
   schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/374133498#Topic/credit_control_united_states_history_21st_century> # Credit control--United States--History--21st century
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh2009122260> ;
   schema:name "Credit control--United States--History--21st century"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2009003683> # Global Financial Crisis, 2008-2009
    a schema:Intangible ;
   schema:name "Global Financial Crisis, 2008-2009"@en ;
    .

<http://id.worldcat.org/fast/1204155> # United States.
    a schema:Place ;
   schema:name "United States." ;
    .

<http://id.worldcat.org/fast/1755654> # Global Financial Crisis (2008-2009)
    a bgn:Meeting, schema:Event ;
   schema:name "Global Financial Crisis (2008-2009)" ;
    .

<http://id.worldcat.org/fast/882577> # Credit control
    a schema:Intangible ;
   schema:name "Credit control"@en ;
    .

<http://viaf.org/viaf/135446122> # National Bureau of Economic Research.
    a schema:Organization ;
   schema:name "National Bureau of Economic Research." ;
    .

<http://viaf.org/viaf/59187003> # Robert Ward Vishny
    a schema:Person ;
   schema:familyName "Vishny" ;
   schema:givenName "Robert Ward" ;
   schema:givenName "Robert W." ;
   schema:name "Robert Ward Vishny" ;
    .

<http://viaf.org/viaf/59191744> # Ben Bernanke
    a schema:Person ;
   schema:familyName "Bernanke" ;
   schema:givenName "Ben" ;
   schema:name "Ben Bernanke" ;
    .

<http://viaf.org/viaf/69032571> # Andrei Shleifer
    a schema:Person ;
   schema:familyName "Shleifer" ;
   schema:givenName "Andrei" ;
   schema:name "Andrei Shleifer" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.