Results 11 to 20 of about 2,647 (311)
China as an International Lender of Last Resort
SSRN Electronic Journal, 2023 This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. We build the first comprehensive dataset on China's overseas bailouts between 2000 and 2021 and provide new insights into China's growing role in the global financial system.
Horn, Sebastian +3 more
openaire +3 more sources
European Central Bank as a lender of last resort
Cхід, 2014 The article deals with the notion "the lender of last resort". First of all, it tackles upon classic interpretations of the LLR and the theories in the basis of the notion. It explores the evolution of the theoretical framework and touches upon practical
Nika Palaguta
doaj +1 more source
Lender of last resort: A contemporary perspective [PDF]
Journal of Financial Services Research, 1991 Abstract Although much discussed in both the economic and banking literature, the lender of last resort (LLR) has always been a vague concept. Apparently first discussed by Sir Francis Baring in 1797 and refmed by Henry Thornton (1802) and Walter Bagehot (1873), among others, the lender of last resort’s function was to prevent ...
openaire +1 more source
The Lender of Last Resort: A Historical Perspective [PDF]
SSRN Electronic Journal, 1984 Abstract The current international debt situation has led some analysts to suggest the possibility of a scenario whereby international debt defaults quickly lead to severe strains on domestic commercial banks. In this context, monetary and central bank policy become especially important, and references are often made to the central ...
Thomas M. Humphrey, Robert E. Keleher
openaire +2 more sources
Post-crisis Belarus: Marxism and the lender of last resort
Journal of Eurasian Studies, 2015 Existing literature has examined the predictions and proscriptions of Karl Marx in response to the 2008 global financial crisis. However, the suggestions put forth by the Marxist-leaning literature never took hold and state-level banking and finance ...
Heather Bell, Robin Bell
doaj +1 more source
A Private Bank as Lender of Last Resort Under the Classical Gold Standard.
Jahrbuch für Wirtschaftsgeschichte, 2022 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.
Ziegler Dieter
doaj +1 more source
The lender of last resort concept: from Bagehot to the crisis of 2007
Revue de la Régulation, 2010 The crisis that has unfolded since the summer of 2007 has provided an opportunity to experiment in vivo one of the most important pillars of economic theory: the lender of last resort (LOLR).
Esther Jeffers
doaj +1 more source
Dating the Lender of Last Resort
The Economic Journal, 2022 Abstract We exploit a fixed rule constraining central bank credit provision in a regression discontinuity framework to analyse counterparties’ behavioural responses to the (non-)receipt of liquidity during a crisis. In spring 1847, the Bank of England suddenly started rationing credit to avoid violating its gold reserve requirement.
Kilian Rieder +3 more
openaire +1 more source
TARGET2 Imbalances and the ECB as Lender of Last Resort
International Journal of Financial Studies, 2015 This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis, when some countries registered a decisive inflow of the central bank liquidity and others showed an outflow.
Francesco Purificato, Caterina Astarita
doaj +1 more source
Fiscal austerity and monetary easing: which one is to be praised for ending the euro area crisis? [PDF]
The European Journal of Comparative Economics, 2018 In this paper I have used a framework for the analysis of public debt stability that dates back to Domar, and I have extended it in order to consider, together with the role played by the interest rate, the rate of GDP growth and domestic fiscal policy ...
Pompeo Della Posta
doaj +1 more source