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Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008

Maurice Obstfeld; Jay C. Shambaugh; Alan M. Taylor

American Economic Review 2009 99(2), 480-486

Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008 by Maurice Obstfeld, Jay C. Shambaugh and Alan M. Taylor. Published in volume 99, issue 2, pages 480-86 of American Economic Review, May 2009

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Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008