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The renewed interest in the theory of the lender of last resort (LOLR) as well as the missing LOLR in the Eurosystem has triggered a new thesis on the LOLR: not the central bank but the Minister of Finance is the true LOLR. The classical theorists of central banking - Steuart, Thornton, Bagehot...
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dient diese Bilanz? Und wie informativ ist die Bilanzlänge für die Geldpolitik? In diesem Kommentar argumentieren wir, dass …
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