Michael Holscher

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paper presents preliminary findings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the authors and are not necessarily reflective of views at the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are(More)
Katheryn van der Celen for helpful discussions. The views expressed are those of the author and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. l The 2007-09 financial crisis saw many funding mechanisms experiencing disruptions, with borrowing rates and haircuts reaching record highs and some(More)
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