ArticleSouthern economic journal2021
The Federal Reserve's response to the COVID-19 contraction: An initial appraisal.
Article in Southern economic journal, 2021. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 6 papers.
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
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Who cites it
6 citing papers in PubMed.
- The response of money market funds to the COVID-19 pandemic.Finance research letters · 2023Article
- The redistributive politics of monetary policy.Public choice · 2023Article
- The FDA and the COVID-19: A political economy perspective.Southern economic journal · 2021Article
- The political economy of drug and alcohol regulation during the COVID-19 pandemic.Southern economic journal · 2021Article
- The political economy of the COVID-19 pandemic.Southern economic journal · 2021Article
- The Federal Reserve's response to the COVID-19 contraction: An initial appraisal.Southern economic journal · 2021Article
Corrections and comments
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Authors and funding
5 authors.
Funding
No grant is acknowledged in the PubMed record.
Abstract
We provide an initial assessment of the Federal Reserve's policy response to the COVID-19 contraction. We briefly review the historical episode and consider the standard textbook treatment of a pandemic on the macroeconomy. We summarize and then evaluate the Fed's monetary and emergency lending policies through the end of 2020. We credit the Fed with promoting monetary stability while maintaining that it could have done more. We argue that the Fed could have achieved stability without employing its emergency lending facilities. Although some facilities likely helped to promote general liquidity, others were primarily intended to allocate credit, which blurs the line between monetary and fiscal policy. These credit allocation facilities were unwarranted and unwise.
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