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Persistent link: https://www.econbiz.de/10013138046
Bank for International Settlements researchers Stephen Cecchetti and Piti Disyatat consider the implications of recent financial developments for the “lender-of-last-resort” function of central banks and whether traditional policymaking tools remain effective in the face of modern liquidity...
Persistent link: https://www.econbiz.de/10008461917