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The Federal Reserve Responds to Crises: September 11th Was Not the First

Resource Type
Dataset : survey data
  • Neely, Christopher J. (Federal Reserve Bank of St. Louis)
Other Title
  • Archival Version (Subtitle)
Publication Date
Free Keywords
economic crises; Federal Reserve System; markets; national security; terrorist attacks
  • Abstract

    A primary purpose of the Federal Reserve Act of 1913 was to prevent banking panics by establishing the Federal Reserve System to function as a lender of last resort. Other types of financial crisis require a similar response, however, and the Federal Reserve has repeatedly used its capacity to generate liquidity to insulate the economy from crises in financial markets. The Fed's response to the terrorist attacks of September 11, 2001, is the most recent example of this. This paper reviews the Fed's responses to crises and potential crises in financial markets: the stock market crash of 1987, the Russian default, and the September 11th attacks.
  • Table of Contents


    • DS1: Dataset
Geographic Coverage
  • United States
Collection Mode
  • Files submitted are the data file 0403cnd.xls and the program file 0403cnp.prg. These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

This version of the study is no longer available on the web. If you need to acquire this version of the data, you have to contact ICPSR User Support (
Alternative Identifiers
  • 1299 (Type: ICPSR Study Number)
  • Is previous version of
    DOI: 10.3886/ICPSR01299.v1
  • Neely, Christopher J.. The Federal Reserve Responds to Crises: September 11th Was Not the First. Federal Reserve Bank of St. Louis Review.86, (2), 27-42.2004.

Update Metadata: 2015-08-05 | Issue Number: 6 | Registration Date: 2015-06-15

Neely, Christopher J. (2004): The Federal Reserve Responds to Crises: September 11th Was Not the First. Archival Version. Version: v0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.