scholarly journals The Treasury Market in Spring 2020 and the Response of the Federal Reserve

2021 ◽  
Author(s):  
Annette Vissing-Jorgensen
Keyword(s):  
Federal Reserve ◽  
Treasury Market

END-OF-DAY PRICING IN THE U.S. TREASURY MARKET: A COMPARISON OF GovPX AND THE FEDERAL RESERVE BANK OF NEW YORK

2005 ◽  
Vol 28 (1) ◽  
pp. 97-113 ◽  
Author(s):  
Susan D. Jordan ◽  
David R. Kuipers
Keyword(s):  
New York ◽  
Federal Reserve ◽  
Federal Reserve Bank ◽  
Reserve Bank ◽  
Treasury Market ◽  
The U.S

Federal Reserve Support of the Treasury Market during World War I

2012 ◽  
pp. 130-142
Author(s):  
Kenneth D. Garbade
Keyword(s):  
World War I ◽  
Federal Reserve ◽  
World War ◽  
Treasury Market

scholarly journals Government Intervention and Strategic Trading in the U.S. Treasury Market

2018 ◽  
Vol 55 (1) ◽  
pp. 117-157 ◽  
Author(s):  
Paolo Pasquariello ◽  
Jennifer Roush ◽  
Clara Vega
Keyword(s):  
Federal Reserve ◽  
Government Intervention ◽  
Market Liquidity ◽  
Policy Uncertainty ◽  
Open Market ◽  
Treasury Securities ◽  
Strategic Trading ◽  
Treasury Market ◽  
Parsimonious Model ◽  
The Impact

We study the impact of permanent open market operations (POMOs) by the Federal Reserve on U.S. Treasury market liquidity. Using a parsimonious model of speculative trading, we conjecture that i) this form of government intervention improves market liquidity, contrary to conclusions drawn by existing literature; and ii) the extent of this improvement depends on the market’s information environment. Evidence from a novel sample of Federal Reserve POMOs during the 2000s indicates that bid–ask spreads of on-the-run Treasury securities decline when POMOs are executed, by an amount increasing in proxies for information heterogeneity among speculators, fundamental volatility, and POMO policy uncertainty, consistent with our model.

The Priority of Democracy

2011 ◽  
Author(s):  
Jack Knight ◽  
James Johnson
Keyword(s):  
Decision Making ◽  
Monetary Policy ◽  
Political Institutions ◽  
Federal Reserve ◽  
Democratic Politics ◽  
Institutional Choice ◽  
Democratic Process ◽  
Strong Case ◽  
The Subject ◽  
The Relationship

Pragmatism and its consequences are central issues in American politics today, yet scholars rarely examine in detail the relationship between pragmatism and politics. This book systematically explores the subject and makes a strong case for adopting a pragmatist approach to democratic politics—and for giving priority to democracy in the process of selecting and reforming political institutions. What is the primary value of democracy? When should we make decisions democratically and when should we rely on markets? And when should we accept the decisions of unelected officials, such as judges or bureaucrats? This book explores how a commitment to pragmatism should affect our answers to such important questions. It concludes that democracy is a good way of determining how these kinds of decisions should be made—even if what the democratic process determines is that not all decisions should be made democratically. So, for example, the democratically elected U.S. Congress may legitimately remove monetary policy from democratic decision-making by putting it under the control of the Federal Reserve. This book argues that pragmatism offers an original and compelling justification of democracy in terms of the unique contributions democratic institutions can make to processes of institutional choice. This focus highlights the important role that democracy plays, not in achieving consensus or commonality, but rather in addressing conflicts. Indeed, the book suggest that democratic politics is perhaps best seen less as a way of reaching consensus or agreement than as a way of structuring the terms of persistent disagreement.

What Explains the Stock Market's Reaction to Federal Reserve Policy?

CFA Digest ◽  
2005 ◽  
Vol 35 (4) ◽  
pp. 58-60
Author(s):  
Chenchuramaiah T. Bathala
Keyword(s):  
Federal Reserve ◽  
Federal Reserve Policy

A Note: Has Federal Reserve Policy Changed?

1966 ◽  
Vol 22 (5) ◽  
pp. 105-107 ◽  
Author(s):  
Myrtle Brickman
Keyword(s):  
Federal Reserve ◽  
Federal Reserve Policy
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