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R. G. Hawtrey on the National and International Lender of Last Resort
de Boyer des Roches, Jérôme; Solis Rosales, Ricardo - Université Paris-Dauphine (Paris IX) - 2011
This paper traces R. G. Hawtrey’s main contributions to the theory of the lender of last resort national both (LLR) and … international (ILLR). This theory is a continuation of one of the traditions of the classical period, started by Henry Thornton … (1802) , that differs in important points from Walter Bagehot’s (1873) . (Cf. Laidler 2003 et de Boyer and Solis 2003). In …
Persistent link: https://www.econbiz.de/10010707567
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Floating a “lifeboat”: The Banque de France and the crisis of 1889
Hautcoeur, Pierre-Cyrille; Riva, Angelo; White, Eugene N. - In: Journal of Monetary Economics 65 (2014) C, pp. 104-119
mitigating the moral hazard from such an intervention. This episode contrasts the advice given by Bagehot to the Bank of England …
Persistent link: https://www.econbiz.de/10011120387
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British monetary orthodoxy in the 1870s: A victory for the Currency Principle
Diatkine, Sylvie; Boyer, Jerome de - In: The European Journal of the History of Economic Thought 15 (2008) 2, pp. 181-209
Approval of the quantity theory, of the Humean price-specie-flow mechanism (PSFM) and of lender of last resort analysis … resort and money market theories developed by Bagehot are compatible with the dichotomy between currency and credit, a …
Persistent link: https://www.econbiz.de/10005505429
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British monetary orthodoxy in the 1870s : a victory of the Currency Principle
de Boyer des Roches, Jérôme; Diatkine, Sylvie - Université Paris-Dauphine (Paris IX) - 2008
Approval of the quantity theory, of the Humean price-specie-flow mechanism (PSFM) and of lender of last resort analysis … resort and money market theories developed by Bagehot are compatible with the dichotomy between currency and credit, a …
Persistent link: https://www.econbiz.de/10010708030
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Fighting the Last War: Economists on the Lender of Last Resort
Grossman, Richard; Rockoff, Hugh T - C.E.P.R. Discussion Papers - 2015
even to the still supreme voice among lender-of-last-resort theorists, Walter Bagehot, who wrestled with the how to deal …
Persistent link: https://www.econbiz.de/10011145446
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Origins and Mission of the Federal Reserve
Bernanke, Ben S. - Princeton University Press
In 2012, Ben Bernanke, chairman of the U.S. Federal Reserve, gave a series of lectures about the Federal Reserve and the 2008 financial crisis, as part of a course at George Washington University on the role of the Federal Reserve in the economy. In this unusual event, Bernanke revealed...
Persistent link: https://www.econbiz.de/10010862620
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Is monetary policy possible without an issuance function: the case of Montenegro
Fabris, Nikola; Kalezic, Zorica - In: International Journal of Economic Policy in Emerging … 1 (2008) 4, pp. 356-375
Since the end of 1999, Montenegro belongs to a group of dollarised economies. The process of dollarisation in Montenegro has had positive implications on economic performance. However, by renouncing the issuance function, the country gave up some significant monetary policy attributes. Since the...
Persistent link: https://www.econbiz.de/10005543897
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Two Crises, Two Ideas and One Question
Laidler, David - University of Western Ontario, Economic Policy Research … - 2012
Specific ideas about the Fisher relation between real and nominal interest rates and more general ideas about the nature of the central bank's duty to support the financial system in times of crisis were important to the Monetarist re-assessment of the causes of the Great Depression and what...
Persistent link: https://www.econbiz.de/10010681088
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The Federal Reserve and the Financial Crisis
Bernanke, Ben S. - Princeton University Press
In 2012, Ben Bernanke, chairman of the U.S. Federal Reserve, gave a series of lectures about the Federal Reserve and the 2008 financial crisis, as part of a course at George Washington University on the role of the Federal Reserve in the economy. In this unusual event, Bernanke revealed...
Persistent link: https://www.econbiz.de/10010681113
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Is monetary policy possible without an issuance function: the case of Montenegro
Fabris, Nikola; Kalezic, Zorica - In: International Journal of Economic Policy in Emerging … 1 (2008) 4, pp. 356-375
Since the end of 1999, Montenegro belongs to a group of dollarised economies. The process of dollarisation in Montenegro has had positive implications on economic performance. However, by renouncing the issuance function, the country gave up some significant monetary policy attributes. Since the...
Persistent link: https://www.econbiz.de/10008563437