Who Should Act as Lender of Last Resort? An Incomplete Contracts Model
- 1 August 2000
- journal article
- Published by JSTOR in Journal of Money, Credit and Banking
- Vol. 32 (3) , 580
- https://doi.org/10.2307/2601196
Abstract
This paper presents a model of a bank subject to liquidity shocks that require borrowing from a lender of last resort. Two government agencies may perform this ...Keywords
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