The author argues that the idea, that the Bank of England accepted Walter Bagehot's recommendations from around the 1870s onwards and adopted the role of lender of last resort for the British financial markets, is a misconception. The published balance sheets give this impression, but a closer...

This paper provides an introduction to the special issue on international lending of last resort. Starting from debates about rescue operations and unconventional policies of major central banks in the contexts of the Global Financial Crisis and the European Debt Crisis, it draws attention to...

The article examines the impact of changes in the gold part of the reserves of the National Bank of Kazakhstan on their total volume with an emphasis on the factor of changes in the price of gold. The value of the factor of the price of gold increases during periods of global financial crises...

The Soviet Union has good prospects of becoming the dominant supplier of gold in the world, for its own mining reserves are large and the deposits in the Western world are nearing exhaustion. This need not however - as is shown in the following article - give rise to excessive fears in the West...

This paper examines interest-parity conditions that arguably held as regards the investment demand for bills of exchange during the classical gold standard (1880-1914). Contemporaneous guides to the foreign exchanges report that close connections between the exchange and discount rates arose...

This paper examines interest-parity conditions that arguably held as regards the investment demand for bills of exchange during the classical gold standard (1880-1914). Contemporaneous guides to the foreign exchanges report that close connections between the exchange and discount rates arose...