Policy Responses during the Depth of the 2007- 09 Financial Crisis: Instrument Innovations, Executive Reconfigurations, and Legacies for U.S. Governance
The period September 2008 - March 2009 encompassed that part of the long-festering financial crisis severe enough to leave troubling legacies for the conduct of economic policies. Executive discretion in economic governance hurriedly expanded and centralized to address the depth of the crisis. The U.S. Department of the Treasury (i.e., the Treasury), the Board of Governors of the Federal Reserve System (the Fed), and the Federal Deposit Insurance Corporation (FDIC) acting in tandem, freely exercised emergency authority to prop up the financial system. This paper shows these interventions to have short-run benefits and long-run costs for market efficiency and stability.
|Date of creation:||Jun 2009|
|Contact details of provider:|| Postal: 812-855-1021|
Web page: http://www.iub.edu/~caepr
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:inu:caeprp:2009-007. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Center for Applied Economics and Policy Research)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.