Elham Saeidinezhad is a Term Assistant Professor of Economics at Barnard College, Columbia University. Previously, Elham taught at UCLA, served as a research economist in the "International Finance and Macroeconomics" research group at Milken Institute, Santa Monica, and was a post-doctoral fellow at INET. She obtained her Ph.D. in empirical macroeconomics from the University of Sheffield, UK.

April 6, 2021

Analysis

Risks and Crises

On market makers and risk managers post-2008.

For a long time, Bagehot’s rule, “lend freely, against good collateral, but at a high rate,” restored the Fed’s control over the money market and helped end banking panics and systemic banking crises. This control evaporated on September 15, 2008,…