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The bank of England as lender of last resort : new historical evidence from daily transactional data
Anson, Mike; Bholat, David; Kang, Miao; Thomas, Ryland - 2017
Persistent link: https://www.econbiz.de/10011912860
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The Bank of England as lender of last resort : new historical evidence from daily transactional data
Anson, Mike; Bhola, David; Kang, Miao; Thomas, Ryland - 2017
We use daily transactional ledger data from the Bank of England's Archive to test whether and to what extent the Bank of England during the mid-nineteenth century adhered to Walter Bagehot's rule that a central bank in a financial crisis should lend cash freely at a high interest rate in...
Persistent link: https://www.econbiz.de/10011748529
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The Bank of England and central bank credit rationing during the crisis of 1847 : frosted glass or raised eyebrows?
Anson, Mike; Bholat, David; Kang, Miao; Rieder, Kilian; … - 2019
Persistent link: https://www.econbiz.de/10012201032
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Central bank crisis interventions : a review of the recent literature on potential costs
Aldridge, Patrick; Cimon, David A.; Vala, Rishi - 2023
Central banks may engage in large-scale lending and asset purchases to stabilize financial markets and implement monetary policy during crises. The ability of these actions to restore financial market functioning is well documented; however, they come with costs. We provide a literature review of...
Persistent link: https://www.econbiz.de/10014439058
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Lender of last resort in a peripheral economy with a fixed exchange rate : financial crises and monetary policy in Sweden under the silver and gold standards, 1834 - 1913
Ögren, Anders - In: Centres and peripheries in banking : the historical …, (pp. 223-250). 2007
Persistent link: https://www.econbiz.de/10003575347
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Geldpolitik und Stabilität des Bankensystems : das Liquiditätsproblem aus Sicht der Theoriegeschichte und der gegenwärtigen Finanzmarktentwicklung
Knittel, Michael - 2007 - 1. Aufl.
Wirtschaftstätigkeit der betroffenen Nation ausgewirkt haben. Die Zentralbank hat im Zusammenhang mit systemweiten Störungen die Aufgabe … Wirtschaftssystem im Falle einer systemischen Krise durchläuft und wann die Zentralbank einzuschreiten hat. Dazu wird die … theoriengeschichtliche Entwicklung einer Zentralbank zum Kreditgeber der letzten Instanz beleuchtet. Die Analyse soll dabei Antworten darauf …
Persistent link: https://www.econbiz.de/10011927447
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Central bank liquidity policy in modern times
Brooks, Skylar - 2024
Central banks play a crucial role in promoting financial stability. They act as financial system stabilizers through their capacity to create liquidity and channel it to financial institutions and markets in times of stress - a role that has evolved and expanded substantially over the past 15...
Persistent link: https://www.econbiz.de/10014577846
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Optimal Lender of Last Resort Policy in Different Financial Systems
Fecht, Falko - 2016
In a framework closely related to Diamond and Rajan (2001) we characterize different financial systems and analyze the welfare implications of different LOLR-policies in these financial systems. We show that in a bank-dominated financial system it is less likely that a LOLR-policy that follows...
Persistent link: https://www.econbiz.de/10012991342
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Can a Lender of Last Resort Stabilize Financial Markets? Lessons from the Founding of the Fed
Bernstein, Asaf - 2008
We use the founding of the Federal Reserve as a historical experiment to provide some insight into whether a lender of last resort can stabilize financial markets. Following the Panic of 1907, Congress passed two measures that established a lender of last resort in the United States: (1) the...
Persistent link: https://www.econbiz.de/10012464225