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100   $a20100902d2009      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aHow to stop a herd of running bears?$b[electronic resource] $emarket response to policy initiatives during the Global Financial Crisis /$fYacine Ai?t-Sahalia ... [et al.]
210   $a[Washington, D.C.] $cInternational Monetary Fund$d2009
215   $a1 online resource (80 p.)
225 1 $aIMF working paper ;$vWP/09/204
300   $aDescription based upon print version of record.
311   $a1-4519-1773-2 
320   $aIncludes bibliographical references.
327   $aCover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Measuring Financial Sector Distress and Policy Initiatives; A. The Libor-OIS Spread; 1 The 3-month Libor-OIS Spreads in Levels and First Differences, in the United States, United Kingdom, Euro Area and Japan, January 1, 2007-March 31, 2009; B. Crisis Timeline; C. Policy Announcements; 1. Classification of Policy Measures; 2. Number of Front-Page Policy Announcements, June 1, 2007-March 31, 2009; 2. Cumulative Number of Front-Page Policy Announcements, June 1, 2007-March 31, 2009; III. Event Study Methodology
327   $a3. Impact of Policy Announcements on the Libor-OIS Spread, June 1, 2007-March 31, 2009IV. Impact of Policy Announcements on Interbank Credit and Liquidity Risk; A. Analysis on a Pooled Sample; Graphical Analysis; 4. Frequency Plots for the Pooled Sample of Announcements; 5. Time Profile of the Response of the Libor-OIS Spread to Policy Announcements; Statistical Analysis; 6. Magnitude and Statistical Significance of the Libor-OIS Spread Response to Policy Announcements (Pooled Sample); 3. Statistical Tests on a Pooled Sample for Alternative Event Windows and Measures of Surprise
327   $a4. Statistical Tests on a Pooled Sample for Alternative Measures of Financial Risk5. Characteristics and Impact of Financial Sector Policy Measures; B. Robustness Checks; C. Country-Specific Results; Graphical Analysis; 7. Impact of Domestic and Foreign Policy Announcements on the Libor-OIS Spread, June 1, 2007-March 31, 2009; Statistical Analysis; 8. Magnitude and Statistical Significance of the Libor-OIS Spread Response to Domestic and Foreign Policy Announcements (by Country)
327   $a9. Magnitude and Statistical Significance of the Libor-OIS Spread Response to Domestic and Foreign Policy Inaction and Ad Hoc Bank Bailouts (by Country)6. Statistical Significance of Foreign Policy Announcments on the Libor-OIS Spreads; V. Conclusion; Appendix I. Statistical Tests; References; Footnotes
330   $aThis paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia. Announcements of interest rate cuts, liquidity support, liability guarantees, and recapitalization were associated with a reduction of interbank risk premia, albeit to a different degree during the subprime and global phases of the crisis. Decisions not to reduce interest rates and bail out individual banks in an ad hoc manner had adverse repercussions, both domestical
410  0$aIMF working paper ;$vWP/09/204.
606   $aGlobal Financial Crisis, 2008-2009
606   $aRecessions
608   $aElectronic books.
615  0$aGlobal Financial Crisis, 2008-2009.
615  0$aRecessions.
676   $a330.9
676   $a330.90511
700   $aAi?t-Sahalia$b Yacine$0936725
712 02$aInternational Monetary Fund.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910464017903321
996   $aHow to stop a herd of running bears$92109840
997   $aUNINA