How Do Central Bank Balance Sheets Change in Times of Crisis?

Emily Eisner, Antoine Martin and Ylva Søvik

No 20160204, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: The 2007-09 financial crisis, and the monetary policy response to it, have greatly increased the size of central bank balance sheets around the world. These changes were not always well understood and some were controversial. We discuss these crisis-induced changes, following yesterday’s post on the composition of central bank balance sheets in normal times, and explain the policy intentions behind some of them.

Keywords: Central; bank; balance; sheet (search for similar items in EconPapers)
JEL-codes: E5 (search for similar items in EconPapers)
Date: 2016-02-04
New Economics Papers: this item is included in nep-mac and nep-mon
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