Results 1 - 1 of 1 for Federal Funds Rate [Author: Gary Gorton]
"When confidence is lost, liquidity dries up." The authors investigate the meaning of "confidence" and "liquidity" in the context of the recent financial crisis, which they maintain is a manifestation of an age-old problem with private money creation: banking panics.
research.stlouisfed.org/publications/review/2010/11/01/haircuts
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