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The Federal Reserve's Role: Actions Before, During, and After the 2008 Panic in the Historical Context of the Great Contraction

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  • Michael D. Bordo

Abstract

This paper examines the Federal Reserve's actions before, during and after the 2008 financial crisis. It looks to the Great Contraction of 1929-1933 for historical context of the Federal Reserve’s actions.

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  • Michael D. Bordo, 2013. "The Federal Reserve's Role: Actions Before, During, and After the 2008 Panic in the Historical Context of the Great Contraction," Economics Working Papers 13111, Hoover Institution, Stanford University.
    • Handle: RePEc:hoo:wpaper:13111
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    References listed on IDEAS

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    1. John B. Taylor, 2007. "Housing and monetary policy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 463-476.
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    5. Michael D. Bordo & John Landon-Lane, 2014. "What Explains House Price Booms? History and Empirical Evidence," International Symposia in Economic Theory and Econometrics, in: Macroeconomic Analysis and International Finance, volume 23, pages 1-36, Emerald Group Publishing Limited.
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    11. Michael D. Bordo & John Landon-Lane, 2014. "Does Expansionary Monetary Policy Cause Asset Price Booms? Some Historical and Empirical Evidence," Central Banking, Analysis, and Economic Policies Book Series, in: Sofía Bauducco & Lawrence Christiano & Claudio Raddatz (ed.),Macroeconomic and Financial Stability: challenges for Monetary Policy, edition 1, volume 19, chapter 3, pages 61-116, Central Bank of Chile.
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    Cited by:

    1. Michael Bordo & Arunima Sinha, 2016. "A Lesson from the Great Depression that the Fed Might have Learned: A Comparison of the 1932 Open Market Purchases with Quantitative Easing," NBER Working Papers 22581, National Bureau of Economic Research, Inc.
    2. Rockoff, Hugh, 2022. "Milton Friedman on bailouts," Journal of Financial Stability, Elsevier, vol. 63(C).
    3. Reynard, Samuel, 2023. "Central bank balance sheet, money and inflation," Economics Letters, Elsevier, vol. 224(C).

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