Central bank responses to COVID-19

Baker, Scott R., Nicholas Bloom, Steven J. Davis, and Stephen. J. Terry. 2020. Covid-Induced Economic Uncertainty. National Bureau of Economic Research Working Paper 26983. https://www.nber.org/papers/w26983.

Bank of Japan. 2020. Enhancement of Monetary Easing. https://www.boj.or.jp/en/announcements/release_2020/k200427a.pdf.

Borio, Claudio. 2020. The Covid-19 Economic Crisis: Dangerously Unique. Business Economics 55(4).

Boyarchenko, Nina, Anna Kovner and Or Shachar. 2020. It’s What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities, Staff Report #935, Federal Reserve Bank of New York. https://www.newyorkfed.org/research/staff_reports/sr935.

Crouzet, Nicholas and François Gourio. 2020. Financial Positions of U.S. Public Corporations: Part 5, The Main Street Lending Program: Potential Benefits and Costs Chicago Fed Insights June 18 https://www.chicagofed.org/publications/blogs/chicago-fed-insights/2020/financial-positions-part5.

Darmouni, Olivier and Kerry Siani. 2020. Crowding Out Bank Loans: Liquidity-Driven Bond Issuance. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3693282.

Duffie, Darrell. 2020. Still the World’s Safe Haven? Redesigning the U.S. Treasury Market After the COVID19 Crisis. Hutchins Center Working Paper #56, Brookings Institution. https://www.brookings.edu/wp-content/uploads/2020/05/WP62_Duffie_v2.pdf.

ECB. 2020. Pandemic Emergency Purchase Programme (PEPP). https://www.ecb.europa.eu/mopo/implement/pepp/html/index.en.html. . Accessed Feb 10, 2020.

English, William B. and J. Nellie Liang. 2020. Designing the Main Street Lending Program: Challenges and Options. Hutchins Center Working Paper #64, Brookings Institution. https://www.brookings.edu/wp-content/uploads/2020/06/WP64_Liang-English_FINAL.pdf.

Federal Reserve Board. 2020. Commercial Paper Funding Facility, Terms and Conditions. https://www.federalreserve.gov/monetarypolicy/files/monetary20200723a1.pdf.

FOMC. 2020a. March 15, 2020 Federal Open Market Committee Statement. https://www.federalreserve.gov/monetarypolicy/files/monetary20200315a1.pdf.

FOMC. 2020b. March 23, 2020 Federal Open Market Committee Statement. https://www.federalreserve.gov/monetarypolicy/files/monetary20200323a1.pdf.

FOMC. 2020c. Statement of Longer-run Goals and Monetary Policy Strategy. https://www.federalreserve.gov/monetarypolicy/review-of-monetary-policy-strategy-tools-and-communications-statement-on-longer-run-goals-monetary-policy-strategy.htm August 27, 2020.

Fleming, Michael, Asani Sarkar, and Peter Van Tassel. 2020. The Covid-19 Pandemic and the Fed’s Response. Liberty Street Economics April 15. https://libertystreeteconomics.newyorkfed.org/2020/04/the-covid-19-pandemic-and-the-feds-response.html.

Fleming, Michael. 2020. Treasury Market Liquidity and the Federal Reserve during the COVID-19 Pandemic. Liberty Street Economics May 29. https://libertystreeteconomics.newyorkfed.org/2020/05/treasury-market-liquidity-and-the-federal-reserve-during-the-covid-19-pandemic.html.

Gilchrist, Simon, Bin Wei, Vivian Z. Yue, and Egon Zakrajšek. 2020. The Fed Takes on Corporate Credit Risk: Analysis of the Efficacy of the SMMCF. National Bureau of Economic Research Working Paper 27809. https://www.nber.org/papers/w27809.

Guerrieri, Veronica, Guido Lorenzoni, Ludwig Straub, and Iván Werning. 2020. Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages? National Bureau of Economic Research Working Paper #26918. https://www.nber.org/papers/w26918.

IMF. 2020. Policy Responses to COVID-19. IMF Policy Tracker September 11. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#B.

Lewis, Daniel, Karel Mertens and Jim Stock. 2020. Monitoring Real Activity in Real Time: The Weekly Economic Index. Federal Reserve Bank of New York Liberty Street Economics March 30. https://libertystreeteconomics.newyorkfed.org/2020/03/monitoring-real-activity-in-real-time-the-weekly-economic-index.html.

Liang, J.Nellie. 2020. Corporate Bond Market Dysfunction During COVID-19 and Lessons from the Fed’s Response, Hutchins Center Working Paper #69, Brookings Institution. https://www.brookings.edu/wp-content/uploads/2020/10/WP69-Liang_1.pdf.

Ma, Yiming, Kairong Xiao and, Yao Zeng. 2020. Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity. https://ssrn.com/abstract=3640861.

Nygaard, Kaleb. 2020. Central Banks Launch Funding for Lending Programs. Program on Financial Stability, Yale School of Management. https://som.yale.edu/blog/central-banks-launch-funding-for-lending-programs.

Oguri, Junko. 2020. Use of Federal Reserve Programs Program on Financial Stability, Yale School of Management. https://som.yale.edu/blog/use-of-federal-reserve-programs-09232020.