Humphrey, Thomas MacGillivray - 2013
a central bank, acting as lender of last resort, seeking to avert panics and crises: Lend freely (to temporarily … periods only, and have a clear, simple, certain exit strategy. The purpose is to prevent bank runs and money-stock collapses … model and, instead, return to it. -- lender of last resort ; financial crises ; bank panics ; bank runs ; bailouts ; penalty …