Duygan-Bump and Suarez are at the Federal Reserve Board, Parkinson was formerly at the Federal Reserve Board, and Rosengren and Willen are at the Federal Reserve Bank of Boston. Parkinson played a key role in the design of the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, and Duygan-Bump and Rosengren were actively engaged in policies related to its implementation. We are indebted to an anonymous referee, Cam Harvey (the Editor), and an Associate Editor for detailed comments that greatly improved the paper. For valuable comments, we also thank Steffanie Brady, Ricardo Correa, Dan Covitz, Giovanni Dell'Ariccia, Refet Gürkaynak, Luc Laeven, Patrick McCabe, Bill Nelson, Andy Powell, Steve Sharpe, Bart Simon, and seminar and conference participants at the Federal Reserve Banks of Atlanta and Boston, the Federal Reserve Board, LACEA, IBEFA, and the International Monetary Fund. Neil Goodson, Jonathan Larson, Jonathan Morse, Landon Stroebel, and Isaac Weingram provided excellent research assistance. The views expressed here are those of the authors and do not necessarily represent those of the Federal Reserve Bank of Boston or the Federal Reserve Board.
How Effective Were the Federal Reserve Emergency Liquidity Facilities? Evidence from the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility
Version of Record online: 7 MAR 2013
© 2013 the American Finance Association
The Journal of Finance
Volume 68, Issue 2, pages 715–737, April 2013
How to Cite
DUYGAN-BUMP, B., PARKINSON, P., ROSENGREN, E., SUAREZ, G. A. and WILLEN, P. (2013), How Effective Were the Federal Reserve Emergency Liquidity Facilities? Evidence from the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility. The Journal of Finance, 68: 715–737. doi: 10.1111/jofi.12011
- Issue online: 7 MAR 2013
- Version of Record online: 7 MAR 2013
- Accepted manuscript online: 26 NOV 2012 12:00AM EST
- Initial submission: April 30, 2010; Final version received: September 18, 2012
Appendix S1: Internet Appendix
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