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COVID-19 and the Fed’s Credit Policy

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  • Hetzel, Robert

    (Mercury Publication)

Abstract

Summarized by Pat H: this paper gives a largely critical view of the Fed's recent foray into credit policy through its numerous emergency lending facilities and discusses such actions' implications for moral hazard and for central bank independence.

Suggested Citation

  • Hetzel, Robert, 2020. "COVID-19 and the Fed’s Credit Policy," Working Papers 10689, George Mason University, Mercatus Center.
    • Handle: RePEc:ajw:wpaper:10689
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    File URL: https://mercury.mercatus.org/Product/ViewFinalCopy/2920
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    References listed on IDEAS

    as
    1. Stefano Giglio & Matteo Maggiori & Johannes Stroebel & Stephen Utkus, 2020. "Inside the Mind of a Stock Market Crash," NBER Working Papers 27272, National Bureau of Economic Research, Inc.
    2. Viral V Acharya & Sascha Steffen, 2020. "The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 9(3), pages 430-471.
    Full references (including those not matched with items on IDEAS)

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