Central Bank Dollar Swap Lines and Overseas Dollar Funding Costs
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The views expressed in this paper are those of the individual authors and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Stijn Claessens provided valuable discussant remarks at the ASSA meetings, January 2010. We appreciate the insights and extensive comments on related work by Adam Ashcraft, Chris Burke, Richard Dzina, Steven Friedman, Jamie McAndrews, Patricia Mosser, Susan McLaughlin, Anna Nordstrom, and Michael Leahy. Address correspondences to Linda S. Goldberg, Federal Reserve Bank of NY, Research Department, 33 Liberty St, New York, N.Y. 10045. email: Linda.Goldberg@ny.frb.org. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.