Bank liability guarantee schemes have traditionally been viewed as costless measures to shore up investor confidence … and prevent bank runs. However, as the experiences of some European countries, most notably Ireland, have demonstrated … rollover risks of a bank and a government, which are connected through the government's guarantee of bank liabilities. We show …

introduction of liquidity regulations. These changes were motivated in part by the argument that central bank lending entails … institutions. Using examples from the recent crisis, we argue that central bank lending is the best response in the former …

introduction of liquidity regulations. These changes were motivated in part by the argument that central bank lending entails … institutions. Using examples from the recent crisis, we argue that central bank lending is the best response in the former …

previous research on the role of central banks as lenders of last resort in crises and on the real effects of bank lending and …

characterizes the size and sign of its fiscal footprint, as well as the states of the world in which the temptation for fiscal goals …

We show that a reduction in lender of last resort (LOLR) policy uncertainty posi-tively affects bank lending and … privatemarket and central bank security valuations - plays a key role in the propagation ofthe shock to lending and the real economy. …